Export target for auto sector set at $25 billion

Economy Bureau
Posted: Friday, Sep 05, 2008 at 2332 hrs IST
Updated: Friday, Sep 05, 2008 at 2332 hrs IST

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New Delhi, Sep 4 : another year; Toyota is talking about 200,000 cars by year end; the Nissan Renault venture is planning a capacity of 400,000 cars. GM and Honda are setting up new plants, as is Tata for its Nano. “

Big volumes mean large investment, he said pointing to Ford’s planned investment of $500 million to expand its facility in Chennai, Leyland and Nissan’s planned investment of $500 million in three joint venture companies for their upcoming commercial vehicle project. He also referred to Daimler Trucks and the Hero Group’s planned investment of $1 billion over the next five years for their Greenfield truck and bus project in Chennai.

Nath said every job in the auto sector leads to four jobs in the related services sector.

“The future challenges for the Indian automobile industry would be to develop a supply base with emphasis on lower costs and economies of scale, develop technical and human capabilities, overcome infrastructure bottlenecks, stimulate domestic demand and exploit export and international business opportunities”, Nath said....

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Export target for auto sector set at $25 billion

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