India: A value-adding automotive and manufacturing hub
The future of manufacturing in India, including the automobile sector, would undoubtedly be affected by the outcome of the Non-Agricultural Market Access (Nama) discussions.
The challenge is to get an agreement that would make India a value-adding automotive and manufacturing hub.
The manufacturing sector is going through a period of revival, growth and investment.
The automobile sector is set to grow from a projected 7.5 million this year to over 10m in the year 2007. Investment in this sector is over Rs 65,000 crore.
The turnover of the component industry is set to double over the current level of Rs 25,000 crore.
By 2012, their combined output would exceed Rs 2,00,000 crore. Indian industry has been able to acquire, assimilate and develop technology.
It is this capability, production capacity, value addition and employment potential that should be kept in mind during trade negotiations.
For some sectors, including the automotive sector, the treatment for completely built products and SKD kits would be critical.
The future of manufacturing in India, including the automobile sector, would undoubtedly be affected by the outcome of the Non-Agricultural Market Access (Nama) discussions.
The challenge is to get an agreement that would make India a value-adding automotive and manufacturing hub.
The manufacturing sector is going through a period of revival, growth and investment.
The automobile sector is set to grow from a projected 7.5 million this year to over 10m in the year 2007. Investment in this sector is over Rs 65,000 crore.
The turnover of the component industry is set to double over the current level of Rs 25,000 crore.
By 2012, their combined output would exceed Rs 2,00,000 crore. Indian industry has been able to acquire, assimilate and develop technology.
It is this capability, production capacity, value addition and employment potential that should be kept in mind during trade negotiations.
For some sectors, including the automotive sector, the treatment for completely built products and SKD kits would be critical.