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Toyota Kirloskar Motors is currently planning to source equipments from various countries for its upcoming small car plant in India due to rupee fluctuations against other currencies in the last 3-4 months.

The company will source equipments from various countries in order to save on import bills.

“Depreciation of rupee (particularly against dollar) has been affecting us badly. We are doing a lot of research on what equipment to bring and how to install them in order to minimise the cost … for that we have cancelled some decisions and implemented some new,” Toyota Kirloskar Motor (TKM) Whole-Time Director Shekar Viswanathan said.

The fluctuation of currencies between yen and rupee has taken the bigger toll and the company has decided to import equipment and components from countries that would offer materials at lower cost, he said.

He, however, declined to specify which would be the new country from where TKM would import major portion of its requirements saying the company was in the process of finalising the import source.

“We will continue to import from Japan, some imports will happen from Thailand, Taiwan and Indonesia and some components will be locally sourced,” he added.

[Source: EconomicTimes]

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