Indian auto industry to grow more than 3.5 times by 2026
By Aamir H Kaki The Heavy Industries Secretary Girish Shankar on Thursday said that the Indian auto industry will grow by 3.5 times, from the output of around Rs.464,000 crores in 2015 to above Rs.16-19 lakh crore by 2026. “We have finalised the next Automotive Vision Plan 2016-2026, as has been the case with the previous one, combined efforts of the government of India and the industry, we chart a growth path that we jointly seek to achieve,” Shankar said, while speaking at the 2nd ASSOCHAM Auto Forum & Awards 2017 in New Delhi. “This Vision Plan also seeks to define the trajectory of the evolution of the automotive eco system in India including deadline of specific regulations and policies that govern a ...
Mahindra tractor exports decline 7% in July
The Dollar Business Bureau Mahindra & Mahindra Ltd (M&M) has registered 7% decline in tractor sales in July 2016. The Farm Equipment Sector of the $17.8-billion Mahindra Group sold 1,101 tractors during July 2016, against 1,187 tractors in the same month last year. Within the country, the company has reported 15% growth in tractor sales at 16,452 units in July this year, as against 14,273 units during the corresponding month last year. The overall tractor sales including domestic sales and exports rose 14% at 17,553 units in July 2016, when compared to 15,460 units in the same month previous year. With normal rainfall and improved spread across India in July, Kharif sowing has been more than last year, said Rajesh Jejurikar, President and Chief ...
Gulf Oil targets robust growth, plans to invest Rs 150 cr
The Dollar Business Bureau Gulf Oil Lubricants India Ltd, the leading lubricant multinational, said on Wednesday that it is targeting a strong organic growth in the coming few years and is in process to invest Rs.150 crore in the company’s new unit in Chennai. The company stated that it will also put more focus on the passenger automotive business.“We are aiming for strong growth in India. We are putting up our second greenfield plant at Chennai at a cost of Rs.150 crore to augment the capacity in the next 18 months to 1.35-1.40 lakh MT capacity,” said Ravi Chawla, Managing Director, Gulf Oil Lubricants. Recently, the company had invested Rs.40-45 crore as capital expenditure to ramp up the capacity of its first plant ...
Honda Cars India plans to double exports in FY2014-15
Jayashankar Menon | @TheDollarBiz (L-R) Rohit Kumar, Zonal Head South, Honda Cars India Ltd; Shigeru Yamazaki, Director, Honda Cars India Ltd; Jnaneswar Sen, Senior Vice-President (Sales & Marketing), Honda Cars India Ltd at a product launch Honda Cars India Limited (HCIL), the domestic arm of the Japanese car manufacturer Honda, is planning to export 10,000 made in India cars in FY2014-15, which is almost double the 5,500 vehicles exported in the previous year. Though much smaller in number when compared to major car exporters from India -- Hyundai Motor India exported around 2.3 lakh units in FY2013-14, Nissan India exported around 1.16 lakh units, and Maruti Suzuki exported around 1 lakh units -- HCIL’s export target for FY2014-15 signals a tilt ...
