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"General Motors plans to buy $1 billion worth of automobile parts from India each year by 2008, the Associated Press reported, citing P. Balendran, vice president of General Motors India.   &amp;quot;Auto parts in India cost 25-30 percent less than in North America or Europe,&amp;quot; Balendran was quoted as saying by Dow Jones Newswires. &amp;quot;They are also around 15 percent cheaper than South Korea and Mexico, but the quality is on a par.&amp;quot;   GM currently buys about $120 million in parts from India. "^^<http://www.w3.org/2001/XMLSchema#string>
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