Search Result for : Automobile Components

The Dollar Business Bureau India’s friendship with Israel has been translating into a growth in huge export numbers. In April this year, engineering exports to Israel grew six times over the same month last year, the Engineering Exports Promotion Council (EEPC) revealed today. This is significant given the fact that Prime Minister Narendra Modi will be visiting Israel on July 5 and is keen to ensure that his visit is not focussed on defence ties alone, but includes long-term economic and technological cooperation resulting in a Free Trade Agreement. According to the data released by EEPC, the shipments of engineering goods have increased to $146.42 million in the month of April alone, which is a whopping 640% more than last year’s April ...

PTI Japanese auto majors Toyota and Suzuki on Monday agreed to begin concrete examinations for business partnership in areas of environment, safety and information technology along with supply of products and components.Toyota Motor Corporation and Suzuki Motor Corporation have agreed to start exploring ideas directed towards business partnership, as announced on October 12, 2016, the two companies said in a statement.“Since then, the companies have shared with each other their challenges and have been discussing areas of collaboration in a manner that ensures fair and free competition,” it added.“Toyota and Suzuki have agreed to work toward the early realisation of business partnership. To that end, the two companies are to immediately establish an implementation framework aimed at bringing to realisation the ...

Sreenivasa Rao Dasari  Setting a seven-fold rise in auto component exports for the next decade, Automobile Component Manufacturers Association (ACMA) has advised the industry to focus on quality and innovation. ACMA forecasts $70-billion exports by 2026 from the $10.8-billion level in 2015-16 financial year. According to Automotive Mission Plan 2016-26 (AMP), the Indian auto component industry aims to achieve $200 billion in revenues by 2026 including exports of $70-80 billion. India recorded auto component exports to Rs70,996 crore in 2015-16, which grew 3.5% from Rs 68,500 crore ($11.2 billion) in 2014-15. ACMA President Rattan Kapur has estimated that the auto component industry requires investments to the tune of $30-billion to achieve the target under AMP.  Speaking to The Dollar Business, Kapur said, ...

The Dollar Business Bureau India’s steel imports increased to 0.91 million tonnes (MT) in May this year, registering an increase of 58% as compared to the same month’s figure last year. As compared to the April 2015 data, the import grew by 20.4%, said the latest report of the Joint Plant Committee under the Ministry of Steel. "Import of total finished steel stood at 1.666 MT in April-May 2015-16 and saw a growth of 54.5% over the same period of last year," the report said, pointing towards 7% increase in the consumption of the metal in April. The country’s total consumption of finished steel in May 2015 registered 7.234 MT, which was 31.3% higher than last month and 6.8 % up from ...

Aravind Melligeri, Chairman & CEO, Aequs | Aequs targets revenues from the automotive business to grow to $30 million by 2020 and says that higher levels of FDI in aerospace and defence will help boost both volume and capability of the company Jayashankar Menon | @TheDollarBiz Helped by the growing reliance of leading global automobile manufacturers to outsource their auto component manufacturing to India, the country's exports from this sector are forecast to surge over three times from the current levels of $12 billion to $40 billion by 2020. Buoyed by the growing demand, the India-based precision engineering component manufacturer Aequs is targeting $30 million of its revenues to come from its automotive business alone by 2020. The company already supplies precision engineering components ...