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|18th October 2005, 14:12||#1|
Senior - BHPian
Join Date: Feb 2005
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Bajaj awaits Pak nod for 2-wheeler JV
Bajaj Auto, the country's second-largest two-wheeler manufacturer, has firmed up plans to enter Pakistan through a joint venture, chairman Rahul Bajaj said on Monday.
The company is awaiting approval from the Pakistan government to enter the neighbouring market, he said. "We are waiting for the green signal from Pakistan Prime Minister Shaukat Aziz, while all the formalities (to enter Pakistan) have been completed," Bajaj said.
He said the joint venture with Pakistan's leading business family, Saigals, could be in the ratio of 51:49 - with Bajaj Auto holding the majority stake.
"We intend to have either a manufacturing or an assembly base in Pakistan. However, the Pakistan government seems more interested in giving us permission for a technology transfer arrangement," Bajaj said. If the company gets approval for technology transfer agreement, Bajaj Auto will go ahead with the arrangement, he said.
If Bajaj Auto's proposal comes through, the company will be the first from India to set up a production base in Pakistan. Pakistan's Saigal family, which left India during Partition, has interests in diversified sectors such as banking and automobiles.Currently, the Saigal family has a production tie-up with the Chinese company Qingqi.
The Pakistan venture will provide Bajaj Auto access to a market where there is no indigenous two-wheeler brand.
Bajaj Auto has reported a 61 per cent increase in its July-September net profit to Rs 291 crore. The company's net sales grew nearly 30 per cent to Rs 1866 crore during the quarter. The company recorded its highest-ever monthly sales at 218,012 vehicles in September, up 33 per cent from a year earlier.
|18th October 2005, 20:00||#3|
Join Date: Mar 2005
Thanked: 59 Times
exactly my sentiments !!!!
of all the countries in the world where we can export our goods, why are indian businessmen looking at Pakistan ??? its not like its a massive market or something. just stay from them yaar. they and their business are just not worth it.
|19th October 2005, 10:26||#4|
Join Date: Jul 2005
Thanked: 2 Times
Motorcycle market in Pakistan grew at over 90 % in the last few years, something any sane company wouldn't want to ignore. And about technology being leaked, you already have made in china 'pulsar look alikes' running in afghanistan and latin america.
And its not like we just have some cheap companies there.. we do have JVs manufacturing Honda, Suzuki and Yamaha motorcycles there. I think its a good move, better be a part of the growth rather than try entering a crowded market a few years down.
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