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back to index backASIAtalk July,  2005

With sales rising 30% a year, Indian part maker investments will top $1 billion

With annual sales rising at a rate of 30% a year the last couple of years, Indian parts makers expect to invest about $1 billion this year, and to raise spending 10-15% annually into the indefinite future, the Hindu Business Line newspaper reported from New Delhi.

The figures came from Deep Kapuria, the president of India's Automotive Component Manufacturers' Association, and are in addition to the investments of foreign parts makers like Robert Bosch, through fuel injection subsidiary Mico.

Major parts makers with substantial investment plans, the paper said, include Bharat Forge, Amtek Auto, Sona Koyo, Rico Auto, Goetze and Omax Autos. Automaker expansion plans, led by Suzuki (via subsidiary Maruti), Hyundai and the Toyota group, will quickly move India into the ranks of the top 10 global producers, Kapuria said, and that is driving the growth in parts. In addition, several U.S. and European makers have announced plans to use India as a manufacturing base from which to export parts to their assembly lines elsewhere. Parts exports are already running to $1.4 billion a year, and are expanding at roughly a 30% annual rate, Kapuria said.

For a free sample copy of The Japan Automotive Digest, click here.

Source: Japan Automotive Digest - GAI

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