Auto parts export to touch $1.2 B

By agencies   |   Thursday, 24 March 2005, 08:00 Hrs
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CHENNAI:Exports of automotive components from India in the fiscal ending March 31, 2005, would grow by 20 percent to $1.2 billion against nearly $1 billion last year, a top industry official said.

"Auto components exports will touch $1.2 billion this year," V Ramachandran, chairman, Automotive Component Manufacturers Association of India (southern region) said.

He said the total turnover of automotive components makers in India was expected to touch $8 billion during the current fiscal. In the last financial year, the total sale of automotive components was $6.7 billion.

With the overseas markets estimated to grow at a higher pace, the industry has fixed a target of $20-25 billion for exports from India by the year 2015, S Raj, deputy director, ACMA (southern Region), said.

The total turnover of automotive components industry was expected to touch $33-40 billion by 2015, he said.

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