It is heartening to read the resolve of the Federation of Indian Export Organisations to rev up India's export target in the current fiscal. From a glum 1.7 per cent in 2013-14, the aim is to take exports to a 'ballpark' figure of 4 per cent in 2014-15. Shipments are all set to increase as demand in key markets holds cheer.
One of the interesting segments is auto exports. The passenger vehicle sector saw a lull last year with hardly 55 per cent of the installed capacity being utilised. But an optimistic passenger car demand in the domestic market this year and growing acceptance of India-manufactured auto models in emerging markets across the globe are positive indicators for the Society of Indian Autobomile Manufacturers (SIAM).
General Motors has recently announced that it would export its left-hand-drive version of Chevrolet Beat hatchback to Chile in the first quarter of 2015. Work will soon begin at its Talegaon plant.
Interestingly, Volkswagen, the leading car maker of Europe, is converting its Chakan plant near Pune from domestic to a major export hub. The plant is at present producing 100,000 units but is likely to double it by 2017-18. It exported 25,000 cars last year, but hopes to reach 60,000 units, that is more than double, by the end of this fiscal.
Ford India has already set up its base to make India a regional export hub for small cars. In April this year alone, the company saw a two-fold increase in its exports, when compared to last year.
The sector is having 'Great Expectations' from the Modi government to accelerate the economy through sensible policies and reforms. Let's wait to feel the winds of change and the whiz of the auto sector!
One of the interesting segments is auto exports. The passenger vehicle sector saw a lull last year with hardly 55 per cent of the installed capacity being utilised. But an optimistic passenger car demand in the domestic market this year and growing acceptance of India-manufactured auto models in emerging markets across the globe are positive indicators for the Society of Indian Autobomile Manufacturers (SIAM).
General Motors has recently announced that it would export its left-hand-drive version of Chevrolet Beat hatchback to Chile in the first quarter of 2015. Work will soon begin at its Talegaon plant.
Interestingly, Volkswagen, the leading car maker of Europe, is converting its Chakan plant near Pune from domestic to a major export hub. The plant is at present producing 100,000 units but is likely to double it by 2017-18. It exported 25,000 cars last year, but hopes to reach 60,000 units, that is more than double, by the end of this fiscal.
Ford India has already set up its base to make India a regional export hub for small cars. In April this year alone, the company saw a two-fold increase in its exports, when compared to last year.
The sector is having 'Great Expectations' from the Modi government to accelerate the economy through sensible policies and reforms. Let's wait to feel the winds of change and the whiz of the auto sector!
