From Swaminomics : India has overtaken China as a car exporter this year, exporting 201,138 cars in January-July against China’s 164,800. What’s more, Indian exports in this period went up 18%, while China’s fell by 60%.
Of other big Asian exporters, Korea’s exports have fallen 31% and Thailand’s 43%. In a terrible global recession, India is the only country with zooming exports. Hyundai has long made India an export hub for small cars, and aims to export 300,000 India-made cars this year. Maruti-Suzuki comes second in exports, with Tata, Mahindra and others well behind. Nissan is about to build a new factory in India specifically for exports. India looks like exporting half a million cars in 2009-10, and should cross the million mark within five years.
Mr. Aiyar feels that cheaper and quicker R&D talent is what has clinched the auto industry leadership for India. However Indian Auto Industry is also known for its Clusters (like in Coimbatore and Chennai) which are low cost sweatshops. Mr. Aiyar also points out that Indian Auto Industry was not planned top-down strategic but emerged bottom up cut-throat competition. This bottom up emergence is the growth of the small and medium size entrepreneur driven clusters growth.
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