General Motors expects India business to be profitable in five years

By Aditi Shah

MUMBAI (Reuters) - General Motors Co expects to be profitable in India in five years as it cuts costs and works towards increasing local content in its cars, the automaker's country head told Reuters.

"In the next five years, I should definitely make it to a green balance sheet," GM's India Managing Director, Arvind Saxena, said in an interview on Wednesday.

Even after two decades in India, GM's sales are falling and it is still losing money. It lost 38.5 billion rupees ($581 million) in India in the year to March, a company filing with the corporate affairs ministry showed.

 

($1 = 66.2550 rupees)

(Reporting by Aditi Shah in New Delhi; Editing by Sunil Nair)