The luxury automaker, BMW isn't only reaping rich dividends out of the Indian market by sitting at the cushy top slot at the end of the calendar year 2009 but the company is also aiming at sourcing components from the cost-effective Indian market in a big way.

Till now, the Germany-based automaker has been sourcing components such as gears, castings and assembly parts from India, predominantly for its motorcycles is now targeting sourcing additional components from the Indian market for its cars. While the company did not specify the exact details on what would be the sourcing plan look like but this announcement was made by Klaus Draeger, member of board of management with responsibilities of development, BMW.

BMW by no means is the first in the queue as automakers like General Motors, Fiat, Ford and Volkswagen have already been sourcing components worth $1 billion each from the Indian market.

Notably, Car sales for the BMW group fell 10.4% in 2009, while motorcycle sales fell 14.1% and this attempt to source from the Indian market is expected to keep the company afloat in the intensely competitive automotive scenario.