Citroen to soon enter the Indian Auto Market

Soon, it is expected that, Citroen, which is a subsidiary of Peugeot Citroen group will join the league of car manufacturers in the Indian car market. The Citroen group, is a reputed name in the global auto industry, and has been coming up with varied technological wonders. As per the industry insiders, the rumours are strong that, Citroen Group will enter the Indian auto arena to enjoy the growing auto mobile sector here. India will play a major role in the global auto market in the coming years and as per many investors, it is a correct time to invest in the growing market, which is luring the international brands to set up plants and bring a wide range of vehicles in India.

As per the sources, a top level executive from the company approached the Andhra Pradesh Industrial Infrastructure Corporation and State Industries Department for discussing the land near Shamshabad International airport. It is the same piece of land which was proposed by Andra Pradesh Government to Tata Motors for setting up manufacturing plant for Tata Nano.

The company is not ready to give any details, but as per the Officials from the Citroen Group, the company is planning an investment in the domestic car market.

If looking back, it is the second move from the company to invest in the Indian auto market. Almost two decades back, in 1993-94, PSA Peugeot Citroen with Premier Automobiles signed a joint venture for the Indian Auto market for assembly of car models such as 309. But the deal was discontinued because of the differences between the companies and labour strikes in the unit.

Mr Daniel Zamparini, Chief Information Officer, PS A Peugeot Citroen Group revealed on teleconference last month that, the company will soon announce its plans and other details within few weeks. According to speculations, it will be a combined investment from Citroen and Peugeot of more than INR 4000 Crore.

China and India are the key auto markets in the developing world. Major auto giants globally are eyeing on the sub continent market. Indian auto market is promising and has been attracting the world auto giants to invest in the growth. Big car brands such as BMW, General Motors, Mercedes- Benz and many others have time and again invested in the domestic market.

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