Don't see India as an emerging market anymore: Porsche

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emerging market anymore," Platen said. “There’s a very strong momentum in India as it welcomes investments, in infrastructure, sustainability and in R&D. Education levels here have changed in the last ten years.

We see a lot of opportunities here, but we will not do an assembly operation here. We are focused solely on value-oriented growth, sustainable growth and building our brand in the country," Platen said. The board member is in India with Matthias Becker, vice president of Porsche’s overseas markets.

The German high-performance carmaker will have 10 dealer-investors in India by the end of the year, which will give it a footprint in all of the major tier-1 markets, the company said. “We are one of the fastest growing luxury car brands in India. As part of the luxury car market here, we will continue to be small in terms of volume.

But I don’t see India anymore as an emerging market where everything has to be established. India is a leading country in terms of software technologies, in terms of IT developments," Platen said. “We are heavily focused on developing our presence in India.

We just doubled the number of partners we have in India. We aren’t expanding in a classic dealership way. It’s more important for us to establish a strong credibility for us a brand, as a unique luxury brand.

We don’t want to compete in the premium market. We want to establish strong relationships with our customers—we have 4,000-5,000 active customers in India who have expectations in terms of quality and after-sales services. And for that I think it’s more important to grow qualitatively," Platen said.