General Motors expects to be profitable in India in five years
Sep 2, 2015, 19:12 IST
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As it cuts costs and works towards increasing local content in its cars, General Motors Co expects to be profitable in India in five years, the automaker's country head told Reuters.
"In the next five years, I should definitely make it to a green balance sheet," GM's India Managing Director, Arvind Saxena, said in an interview on Wednesday.
Even after two decades in India, GM's sales are falling and it is still losing money. It lost Rs 38.5 billion ($581 million) in India in the year to March, a company filing with the corporate affairs ministry showed. ($1 = 66.2550 Indian rupees)
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