South Korean automaker, Hyundai Motor Company is considering hiking the sourcing of its components from India for the company’s global operations, for which it is in the process of identifying more vendors.

According to a senior representative of Hyundai Motor Company, the company has been sourcing some components from India. Considering the increasing capabilities of Indian vendors it is looking to source more parts from the country. He further stated that in the present scenario, there is an increasing interest and the need to optimise cost and the toughening environment in the automotive industry actually emphasises the demand for a well established international purchasing network in order to optimise the sourcing activities and utilise markets, which offer cost advantages. Therefore, there will be increasing number of Made-in-India components in Hyundai’s global products.