Hyundai Motor Co's Indian unit will buy automaker General Motors' Talegaon plant in the western state of Maharashtra, a move that will allow the U.S. automaker to exit the country as well increase Hyundai's annual production.

Hyundai Motor's unit to buy General Motors' India Talegaon plant in Maharashtra

India's commerce minister has asked automakers to find ways to reduce royalty payments to foreign parent companies for use of technology or brand names, two sources said, in an effort to boost local investment and reduce outflows.

India urges automakers to cut royalties to foreign parent companies: Report

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Hyundai Motor's unit to buy General Motors' India Talegaon plant in Maharashtra

India urges automakers to cut royalties to foreign parent companies: Report