India Outperforms China In Auto Exports

by Dave

In Latin America, engineering and manufacturing capabilites of Indian companies need to be showcased in a big way. So, far I have seen too much emphasis on textiles and handicrafts. Overall, areas where Indian IP is strong like engineering, specialty chemicals need more exposure in Latin America. In the auto sector, there is an opportunity for smaller Indian auto component manufacturers to have more tie-ups with their counterparts in Argentina and Mexico.
RTTNews –

Suzuki Motor Corporation, Hyundai Motor Co., and Nissan Motor Co. are making India as a marketing hub for overseas sales of mini cars, as incentives lift demand for smaller, fuel-efficient autos. This year India outperformed China in auto exports and poses challenge to Thailand and South Korea, as an alternative production center in Asia., media reports said.

The Society of Indian Automobile Manufacturers data say India’s exports of mini cars and hatchbacks gained 44% between January and July to 20,138. Total exports, including vans, sport-utility vehicles and trucks, rose 18% to 229,809. Cars are exported to over 100 countries (excluding the US and Japan markets).

Jayesh Shroff, who helps manage around $7 billion of assets, including car maker shares at SBI Asset Management Co in Mumbai, said: “There is a worldwide shift toward fuel-efficient, compact cars. This offers a huge potential for India and it can emerge as a leader in the small car segment.”

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