According to media reports, Ford’s top management is set to consider a fresh proposal for the brand’s re-entry into the Indian market. A report on the feasibility of re-entering India and the growth potential of the market is said to have been prepared. It will be sent to the global team at Ford’s headquarters for consideration. Ford had invested over US$ 2 billion in India before it exited the market in 2021 and a re-entry would entail fresh investments. The company believes that India can bring in volumes at a time when markets like China and Europe are stagnating. Earlier, Ford sold its Gujarat plant to Tata Motors, while the JSW Group was in the race to acquire its Chennai facility. However, decided to pull out of the deal, which led to speculations of the Blue Oval’s re-entry into the Indian market. Reports suggest that if the latest proposal is approved by Ford’s top management, it would still take around a year before production can commence at the Chennai factory. Source:TOI
