Interviews
Environmental engineering needs greater attention, Mr Nath
11 Jan '08
3 min read
Already, India's overseas engagement as represented by the export and import of goods and services has crossed the level of half of GDP, reaching an aggregate of $450 billion.
In the last four years, the growth of merchandise exports has been over 20%, while services exports have been expanding even faster”.
In 2006-07, India crossed the milestone of 10 million vehicles sold. Passenger cars alone vaulted over the one million mark, and commercial vehicles sales grew by over 33%. Exports are also going up by rates of about 20%.
“I believe that auto component exports themselves are slated to double from close to $3 billion this year to $6 billion within the coming financial year.
Deriving from sophisticated engineering skills, formidable cost advantage and end-to-end production capabilities, India is becoming a destination of choice for sourcing of auto parts”, Shri Kamal Nath said.
India's auto industry has been rapidly attaining a name for itself as a global player. The auto component industry has similarly exhibited tremendous innovation and competitiveness and is able to match global standards of production.
The scale of the industry is expected to expand exponentially as more and more auto majors from other countries enter the market.
In the last four years, the growth of merchandise exports has been over 20%, while services exports have been expanding even faster”.
In 2006-07, India crossed the milestone of 10 million vehicles sold. Passenger cars alone vaulted over the one million mark, and commercial vehicles sales grew by over 33%. Exports are also going up by rates of about 20%.
“I believe that auto component exports themselves are slated to double from close to $3 billion this year to $6 billion within the coming financial year.
Deriving from sophisticated engineering skills, formidable cost advantage and end-to-end production capabilities, India is becoming a destination of choice for sourcing of auto parts”, Shri Kamal Nath said.
India's auto industry has been rapidly attaining a name for itself as a global player. The auto component industry has similarly exhibited tremendous innovation and competitiveness and is able to match global standards of production.
The scale of the industry is expected to expand exponentially as more and more auto majors from other countries enter the market.
Press Information Bureau Government of India
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