Auto components export target set at $1 b

NEW DELHI, AUG. 25. The automotive component industry has set an ambitious target to treble its exports to about $1 billion over the next five years from the current level of about $300 million, a top industry official said here today.

"We have set an ambitious exports target of achieving $1 billion of auto-components by 2005. Our focus is to explore new markets in the WTO era to achieve the goal," the newly elected President of the Automotive Component Manufacturers Association of India (ACMA), Mr. L. Ganesh, Vice-Chairman, Rane (Madras), told reporters here. He said the association was encouraging its members to lay more thrust on product quality and get quality certifications to compete in the liberalised trade regime.

Mr. Ganesh said the association would also soon launch an Internet portal to interact with its members and exchange their programmes and experiences. He further said the need of the hour was to have an internationally competitive auto component supply chain in the country and added that the association would encourage members to have linkages with original equipment manufacturers (OEMs) and Tier-1 component suppliers.

- PTI

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Section  : Business
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