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Fiat Group Purchasing,a part of Fiat,plans to source parts worth $1 billion from India in 2010,a senior executive said on Thursday.
“Our target is to source $1 billion in 2010,” Franco Cavallotti,vice-president,International of Fiat Group Purchasing,told reporters at an industry conference. That would be about 5 percent of its global sourcing.
Of the $1 billion,about $700 million would be for Fiat India Automobiles,its joint venture with Tata Motors,and the remainder for exports,he said.
It planned to source $400 to $500 million of components from India in 2009,he said.
Fiat Group Purchasing is the company that manages purchasing for the entire Fiat group.
