Honda Cars India to step up auto parts export to counter falling rupee

Honda's arch-rival Toyota, too, has been exporting parts and aggregates from India

Honda Cars India plans to step up export of auto components in a bid to shield itself from the falling rupee, company’s top official said.

The local arm of the Japanese carmaker, which exported components worth Rs 15 billion in the 2017-18 fiscal year to Honda’s subsidiaries across countries such as Philippines, Thailand, and Japan, is looking to ramp up overseas shipment and aggregates to Rs 17 billion by the end of this fiscal year. The move will offer a “natural hedge” against the depreciating rupee, said Rajesh Goel, senior vice president and director sales and marketing at Honda Cars.