Companies are faced with a critical concern: when the global economy is in shambles, where on Earth do you turn?! According to the DetroitNews, Ford Motor Company has recently invested $2 billion into India.
A country with one of the densest populations in the world, Ford believes that the India market is definitely ripe with opportunities. In fact, a total of eight new cars are scheduled for India launch over the next few years. Ford's latest mega release is the new EcoSport SUV, a product designed specifically for the market.
Currently, a new Ford dealership or service facility is opened every 10 days in India. However, despite the rapid expansion in distribution, Ford CEO Alan Mulally is concerned that India's momentum might be slowing.
During a program hosted by the U.S. India Business Council, Mulally said anxiously, " We would not be doing that [$2 billion investment] if we didn't believe that we could create value. Is it slowing down now? Absolutely. Is that a concern? Absolutely."
Despite the ominous signs, Ford assures optimism in long-term development and emphasized "We are attracted to India." Mullaly even suggested Ford's involvement in the country as mutually beneficial, "We have seen a consistency of purpose and a nurturing environment for economic development. They want us. They need us."
Counting on a booming economy, Ford Motors is committed to an aggressive expansion in India that could effectively make it Ford's third-largest market in only eight year's time. Capitalizing on India's low manufacturing costs, Ford is looking to base factories in India for Asia markets as well.
