Ford is ramping up its Indian operations in the country, launching a $5.6 billion investment that will include a $3 billion expansion of its India plant and an expansion of capacity at its plant in Punjab.
Ford said in a statement that the investments will “create up to 2,000 direct jobs” and boost the company’s annual revenue by $2.6 to $3.2 billion.
Ford has invested $3 trillion in its Indian plants, which are primarily used for vehicles, including some in the U.S. The U.K.-based automaker said the investment will create about 1,500 direct jobs and help to improve its global manufacturing and supply chain.
The investment, which is part of Ford’s commitment to invest more in India, is part on the $6.5 billion the company has already pledged in India.
In a recent interview, Ford’s global head of investment and strategic planning, John Kraemer, said Ford is working with India to create a “bigger picture” for its future investments in India and beyond.
Ford is also expanding its presence in India through a $7 billion investment in its new plant in Maharshi, which will open in 2018.
India, the world’s largest automobile market, accounts for a whopping $23.3 billion of Ford-made vehicles.