Gm Turnaround Chief Drives Into Market Of Future On Nov8

The turnaround man is coming to town. John F Smith Jr, who is credited with restoring the financial health of the $168-billion General Motors Corporation the worlds largest company as its chairman, chief executive officer and president, will make his maiden visit to India on November 8.

Smiths visit is being perceived as a clear vote of confidence in the potential of the Indian passenger car market. During his week-long trip, Smith is scheduled to meet several senior politicians, including Prime Minister I K Gujral, finance minister P Chidambaram and industry minister Murasoli Maran.

Smiths visit assumes significance at a time when the government has threatened to look for a new technology partner to replace its estranged joint venture partner, Suzuki Motor of Japan. The 59-year-old Smith was forced to postpone his planned visit to India last October due to a strike by General Motors workers in the US.

 

India has been chosen as a market for the future by GM, and this will be emphasised by John Smith on his first visit. Though no major announcements are scheduled, Smiths maiden visit will also show the US giants commitment to the country in the long run, said General Motors India chairman C K Birla.

Accompanied by his wife, Smith will lead a top-level executive team from GM, which will include his key confidante Louis R Hughes, president, international operations and executive vice-president.

During his visit, Smith will address a session of the Confederation of Indian Industry, apart from attending an interactive session with key Indian industrialists, bureaucrats and media personalities. He will also have a series of internal meetings with the brass of the C K Birla group. Smith also plans to fly in his private jet to GMs plant at Halol (Gujarat), for an on-the-spot assessment.

GM has notched up moderate success in its Indian operations, with Opel Astra, which was launched in June 1996, notching up sales of over 12,500 units. The company is now eyeing the auto financing sector, with GMAC Financial Services, its 100 per cent subsidiary, tieing up with 20th Century Finance.