Toyota Kirloskar Motor signs pact with Kamarajar Port

The company has entered into a 10-year agreement with the port, renewable at every five year

Toyota Kirloskar Motor (TKM) today signed an agreement with Kamarajar Port to strengthen its export business.

TKM has entered into a 10-year agreement with the port, renewable at every five year, the company said in a statement.

"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," TKM Deputy MD T S Jaishankar said.

The pact is a win-win for both as TKM will build a long- time relationship with the port, boosting its business and improving its commercial viability in a highly competitive market, the Bengaluru-based auto maker said.

TKM will also benefit from the port related tariff concessions, giving a boost to its CBU for export to global markets, it added.