VW holds suppliers meet in India

As many as 250 Indian and foreign suppliers converged in Mumbai on June 7, 2007 as Europe's largest automobile manufacturer, Volkswagen, organised its first suppliers' conference in India.

The auto maker had called the meet to brief suppliers about the manufacturing plans of its new plant at Chakan Industrial Park on the outskirts of Pune, said a report.

The Chakan plant, being set up at a cost of €410 million, will begin producing up to 110,000 vehicles a year from the end of year 2009, it added. The company plans to establish itself as a local manufacturer and a long-term business partner in India. When the new plant goes on stream, it is expected that about 2,500 new jobs will be created.

According to Volkswagen, a significant share of the material required would come from local suppliers. The company also plans to commence sourcing activities soon to find the potential partners in India with local as well as global perspectives, the report added.