The editorial, "Components success" (July 28), has dissected well the recent reports on outsourcing of components for luxury car makers and Volvo's decision to make buses in India for exporting to Europe. The commentary, substantiated by relevant figures, brings out the potential to make in India, especially in the above segment of the industry. The expertise and entrepreneurial instincts of our engineers, coupled with comparatively cheap labour, provide the perfect ground for manufacturing passenger and commercial vehicles for the domestic and overseas markets.
The icing on the cake is low commodity prices due to the slowdown in China, which is not set to recover soon. This fits well into Prime Minister Narendra Modi's vision of importing raw materials and exporting value-added finished goods and not the other way round that has been the case till now. One report stated that we imported ceiling fans worth Rs 30,000 crore from China in one year. With more exports of passenger and commercial vehicles the exports of components would grow in any case.
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The icing on the cake is low commodity prices due to the slowdown in China, which is not set to recover soon. This fits well into Prime Minister Narendra Modi's vision of importing raw materials and exporting value-added finished goods and not the other way round that has been the case till now. One report stated that we imported ceiling fans worth Rs 30,000 crore from China in one year. With more exports of passenger and commercial vehicles the exports of components would grow in any case.
Naresh Saxena New Delhi
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number