Toyota Kirloskar Motor (TKM) has entered in to a ten year agreement with Kamarajar
Port Ltd. (KPL), to solidify its export business. The agreement will be renewed after
every 5 years. The port's association with the Indian arm of the worlds largest automobile
manufacturer is sure to boost its business. The auto major in return, will be getting port
related tariff concessions.
The agreement was signed by the company officials in the presence of Union Shipping
Minister Nitin Gadkari and Minister of State for Shipping Pon. Radhakrishnan in New
Delhi, alongwith Shekar Vishwanathan VC and Whole Time Director, TKM. Gadkari
also restated the government's intention of improving 12 major ports and minor ports to
international standards in India.
Giving more information about the company's plans, T. S. Jaishankar, Deputy Managing
Director, TKM said, "This MoU reconciles our strategic business direction of making
India a global supply base. We strongly believe that India not only has the potential of
being a huge market for sales, it also has the potential of being a supply base. This is also
in line with our commitment to partner PM's Make in India campaign and we are proud
to take a step in that direction and help foster India's economic growth."