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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.
