Indian auto component suppliers to General Motors and Chrysler in the US say there has been no delay in their payments so far. Both US car companies have filed for bankruptcy restructuring.
Says one top executive: “When we met GM’s executives last week in Detroit, they displayed amazing sensitivity to vendors like us. There’s a lot of positive feeling in the way the company is going about re-building a new GM.”
There are 50-odd auto component manufacturers from India who supply to Detroit’s Big-3 (including Ford).
They say they are used to dealing with US bankruptcy filings. Payments for supplies that are made after bankruptcy filing are administered by a US court and thus are guaranteed.
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