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Indian automobile industry seeks government help to increase exports

November 11, 2014, 11:09 PM IST by Selvin Jose
Indian automobile industry seeks government help to increase exports

The Indian automobile industry’s growth has slowed down in the last few years. While the domestic sales were down by a small margin, it seems like the exports are also taking a hit. This has prompted the industry to seek the government’s  support to boost exports. 

In markets like Algeria and Sri lanka various regulatory issues have marred exports. Passenger car exports were down by 6.95 per cent in the April-October period in comparison to the same period last year. 

The industry body, Society of Indian Automobile Manufacturers (SIAM) has submitted a detailed report to the Ministry of Commerce seeking their support into entering high potential markets. 

"We are working with the government, seeking their help to enter new geographies,” Society of Indian Automobile Manufacturers (SIAM) Deputy Director General , Sugato Sen, told reporters.

"We want the government to support us to get into various markets including Chile, Peru, Colombia, Nigeria and South Africa. We don't even have FTA with Chile, which is one market with great export potential," he added.

It is not only the case with our local industry, Europe's share in total car exports has taken a beating too, with their figures going down to 16.9 per cent in 2013-14 from 37.9 per cent a decade ago in 2004-05.

"With all the traditional strong export markets not doing well, it is time to look at new regions and for this we are seeking the government's support," Sen said.

We expect the government to come out in support for the automobile industry and we shall keep you updated on any development.

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