Vespa to make India the pivot of Asian market

London, Apr 29 (UNI) After 60 years of popularity in Europe the Vespa scooter is looking at India.

Asia is not a curse from God but an inviting market, Piaggio Chairman Roberto Colaninno said as Vespa celebrated its 60th birthday.

Mr Colaninno said his Indian factory is making 1,50,000 scooters out of the company's annual production of 6,10,000. This will be the pivot of our Asian business, he added.

''In India we have a company with 1,500 workers, whose turnover doubles every year,'' he said.

Mr Colaninno, who bought out rival scooter firm Aprilia last year, said he is now determined to grow the company until it has a turnover of 2.5 billion dollar a year. Last year, Piaggio's turnover was 1.5 billion dollar.

''It is indispensable to have a positive attitude, to play the game, to accept the challenge of globalisation,'' he said.

The Vespa is made under licence in 180 countries. Currently, the leading player in the scooter market, Honda, sells about 10 million two-wheeled vehicles every year.

In the future we must grow further because the distance between us and our rivals is too great, Mr Colaninno added.

The company is also planning a stock market listing, in Milan, in June. Rocco Sabelli, a Piaggio executive, said the company is in discussions with the Italian regulator and with the stock exchange.

UNI XC PV PM1829