Bajaj Auto, the country's second-largest two-wheeler manufacturer, has firmed up plans to enter Pakistan through a joint venture, chairman Rahul Bajaj said on Monday.
The company is awaiting approval from the Pakistan government to enter the neighbouring market, he said.
"We are waiting for the green signal from Pakistan Prime Minister Shaukat Aziz, while all the formalities (to enter Pakistan) have been completed," Bajaj said.
He said the joint venture with Pakistan's leading business family, Saigals, could be in the ratio of 51:49 - with Bajaj Auto holding the majority stake.
"We intend to have either a manufacturing or an assembly base in Pakistan. However, the Pakistan government seems more interested in giving us permission for a technology transfer arrangement," Bajaj said.
If the company gets approval for technology