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Owing to the rapidly growing automotive market, international joint venture activity in the auto-components sector has been increasing in India, both in terms of frequency and strategic importance.<br><br>Bonazzi Indo Fasteners Limited, a joint venture between the Turin-based Bonazzi Group and the Mumbai-based Indo Group, was set up to manufacture automotive fasteners, primarily for global original equipment manufacturers. There is a confrontational relationship between the two joint venture partners, and the chief executive officer has been unable to broker peace between them.

Owing to the rapidly growing automotive market, international joint venture activity in the auto-components sector has been increasing in India, both in terms of frequency and strategic importance.Bonazzi Indo Fasteners Limited, a joint venture between the Turin-based Bonazzi Group and the Mumbai-based Indo Group, was set up to manufacture automotive fasteners, primarily for global original equipment manufacturers. There is a confrontational relationship between the two joint venture partners, and the chief executive officer has been unable to broker peace between them.