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Although the recent clashes between India and Pakistan have temporarily cooled down, Turkish companies in India have emerged as one of the most affected parties due to Türkiye's steadfast support for Pakistan. Under pressure from the Indian government, the country's economic sector launched a quasi-sanctions campaign against Turkish products and companies.
Despite the strained ties, and pressure on Turkish companies in India, the country's automotive parts giant Samvardhana Motherson Reflectec’s billionaire owner, Vivek Chaand Sehgal, is acquiring full ownership of Plast Met Group, a mold and lighting manufacturer based in Bursa, Türkiye, of which he had already purchased 75% in 2021, according to a report by economy-focused Dunya daily’s Kerim Ulker.
Samvardhana Motherson Reflectec had paid €21.8 million ($25.31 million) for a 75% stake in Plast Met Group in 2021, which produces molds and lighting components. In 2019, the Turkish company had a turnover of €33.4 million.
According to Dunya daily, the Indian company will pay ₺115 million (approximately $3 million) for the remaining 25% stake, becoming the full owner of Plast Met, which operates in Bursa.
Founded in 1986, Motherson Group has made 24 acquisitions to date. Chairman Vivek Chaand Sehgal stated, “This will be Motherson Group’s 25th acquisition. Türkiye will become the 42nd country in Motherson’s global operations. Under our Vision 2025 strategy, we aim to triple our revenues from $12 billion to $36 billion within four years.”
According to 2024 data, Vivek Chaand Sehgal is India’s 30th richest person with a fortune of $8.9 billion.
Established in 1986 in partnership with Japanese giant Sumitomo, Samvardhana Motherson International closed in 2024 with $13 billion in revenue. The India-based company, which employs 129,000 people, produces wiring harnesses, plastic components, and rearview mirrors for passenger cars.
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