Fiat India has confirmed that it is working on a car that is smaller than the Punto and that this car will have nearly 85% of localization to keep costs down when it is introduced into the market.  The year 2012 is likely to see the introduction of this vehicle which is being developed exclusively for India in the Fiat headquarters at Turin, Italy.  Fiat is also considering bringing another car through the CBU route and the media is guessing that this is going to be the Sedici which shares its underpinnings with the Suzuki SX4.  However this is purely in the realm of speculation (the Sedici being the CBU import that is).