UTS Voice
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Now a Car Story
By T.S. Ninan
has succeeded in services, and failed in manufacturing.
So goes the popular wisdom.But that may be about to change.For,
the country’s export of automobiles has grown faster than software over the last
four years (more than 35 per cent annually).
Admittedly, that is from a low base, and the total exports of vehicles last year
fetched no more than $2.5 billion.
But the pace is slated to pick up, not slacken; and in less than 10 years the industry
hopes to be exporting vehicles worth $35 billion-twice as much as the component
exports (like forgings), and it does look as though automobile manufacturer will
be a new arrow in the country’s quiver.
This may be hard to believe, when one looks at the strengths of the automobile industries
in the and and South Korea, and the European manufacturing hubs. But the Indian end of the business is probably
being under-estimated because it has gone mostly unnoticed that it has already acquired
respectable volumes, on the base of a growing domestic market.
At nearly 7 million units a year, India is the second-largest two-wheeler manufacturer in the world, next only to China
. In cars, has just crossed the million mark; 10 other countries have done that before India
, but if you go by the figures provided by the Society of Indian Automobile Manufacturers,
none of them is growing as fast as
India
’s industry.And in buses, believe it or not,
India makes a sixth of the global total.
Even in medium-size tractors,the country does very well in the global pecking order.
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