The failure of the auto bailout package in the US notwithstanding, Ford India and General Motors India today said their investment plans for the country will remain on track.

“This is not in any way going to change our plans for the Indian operations. We are on track with our planned investments,” General Motors India (GMI) vice-president P Balendran said. In August, GMI had announced setting up a new power-train facility at Talegaon with an initial investment of over $200 million.

Ford India said its $500-million investment plans for India remain unchanged. “Our investment plans have not changed,” a Ford India spokeswoman said. She, however, did not take questions on how the company was planning to fund the investments.

Balendran said that of the four regional operations of GM — GM North America, GM Europe, GM Latin America and Middle East and GM Asia Pacific — the latter two have been doing well. “GM Asia Pacific has been making money, and GM Latin America and Middle East is making even more money,” he said. As for India, GMI has been making profit since 2004, Balendran added.

He also said there will not be any change in component sourcing by General Motors from India. “As of now, we are sourcing components worth $500 million for different operations of GM across the world. By 2010, we will reach our projected target of $1 billion,” he added. (With agencies)