Fiat to source components from India

Italian automobile manufacturer Fiat has announced that they are planning to source auto parts from India worth 250 million euro in the next two years.

The company said in a statement: “We will source auto parts worth a minimum of 250 million euro from India by 2010.”

These parts would be used in their plants located in Europe, Brazil and North America.

The company added that these parts sourced from India are expected to be around 10-15 per cent cheaper.

This would cut costs for them in their global markets.

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