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General Motors to close down sales operations in Indian market
General Motors Co has announced that it is going to close down its sales operations in India and rather focus on exports from the country for which it will continue to manufacture vehicles in India.

"The company will focus its GM India manufacturing operations on producing vehicles for export only," the company said in a statement.

The company has also said that the it will continue to provide support to its existing customers.

In the statement, the company said that the move is aimed at developing the company.

"As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company," said company's chairman and chief executive Mary Barra in a statement.

"Globally, we are now in the right markets to drive profitability, strengthen our business performance and capitalise on growth opportunities for the long term. We will continue to optimize our operations market to further improve our competitiveness and cost base," she added.

The move comes after the company reviewed its performance to analyse its future plans.

The move is in line with the company's global restructuring process in order to generate stronger returns and drive shareholder value.

"Our decision in India is an important milestone in strengthening the performance of our GM International operations and establishing GM as a more focused and disciplined company," Financial Express quoted Tefan Jacoby, GM executive vice president and president of GM International.

GM had been suffering considerable losses year after year in India. In 2014-15, the net loss for the company had been Rs 1,003.39 crore while as in 2015-16, it had suffered a loss of and Rs 3,812 crore.

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