India has tremendous potential in the automotive industry and there is great potential for investment, Hitachi Chemical president Kazuyuki Tanaka said Wednesday.
"India is a young market for automotive industry and components and there is lot of potential and scope in this sector," Tanaka, who is also the chief executive officer, told IANS after inaugurating two projects in Neemrana, near Alwar, over 130 km from here.
The two projects are Allied JB Friction Pvt. Ltd. and Hitachi Chemical India Pvt. Ltd.
While Allied JB would manufacture disc pad, brake linings and shoe assembly for both two wheelers and four wheelers, Hitachi Chemical would produce powdered metals products mainly for engine and transmission components for both two and four wheelers.
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