Groomed for Global Growth


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Groomed for Global Growth

India Now - a perspective, Vol 1, Issue 1: August 16, 2005

Global carmakers are fast turning India into a manufacturing, sourcing and R&D hub. Multinational companies, such as General Motors, Volkswagen, Federal Mogul, Toyota, Ford and Mico Bosch, now use India as a base not only to source car parts but also to house their R&D facilities. The US$ 6.3 billion Indian car parts industry is poised to take off as global outsourcing gains ground. Car component exports rose from US$ 330 million in financial year 1998 to US$ 800 million in FY '04. With a cumulative aggregate growth rate of 21.5 per cent, the figure is expected to reach US$ 2.6 billion by 2006. Click Here to Download . Size:1.44 Mb

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