Investors planning to do business outside their own country usually are advised to seek joint-venture partners. But in India, cultural differences between Thais and Indians can be an obstacle and Thai companies may be better off going it alone, say experts on the market.
Thai Summit Auto Parts Industry Co, one of the country’s biggest parts suppliers, entered India in 2003 through a joint venture with JBM Group, a major auto industry supplier in India. A decade later it is running new plants on its own, said Pramual Kaewsai, project manager for India and overseas operations.
The company has averaged steady growth of about 6% a year with sales of motorcycle parts to major customers including Honda, Yamaha, Suzuki and Tata, and its manufacturing plants are now well respected in the Indian auto industry, said Mr Pramual.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.