LKQ Corporation has announced that Board member and UK Chairman, Sukhpal Singh Ahluwalia - the founder of Euro Car Parts (ECP) - has been given responsibility for investigating the potential development of business activities of the company in the Republic of India.
Mr Ahluwalia is expected to spend additional time in India to study the automotive aftermarket parts industry and to better understand the potential opportunities for LKQ in this market, LKQ says. He will also assess the company’s existing business administration subsidiary in Bengaluru (Bangalore) for expansion.
Sukhpal Ahluwalia said: “India is one of the fastest growing nations in the world with a vibrant, free-enterprise economy. As the population grows more affluent, I am expecting major opportunities in the automotive aftermarket parts industry. However we will need to consider carefully how to deal with market inefficiencies and certain infrastructure gaps. This will necessitate on the ground research and a considered approach to assess the best way of developing the Indian market.”