Country's largest bearings manufacturer and leading exporter National Engineering Industries Ltd (NEIL) is planning to more than treble its turnover and increase export by the year 2020.
The company expects to get 35 per cent of turnover from export by 2020 and increase its growth rate.
The company's current turnover is Rs 1,500 crore.
"We are concentrating on export as the automotive market in India is tough. The company expects 35 per cent turnover from export by 2020, which in present is 25 per cent", Rohit Saboo, President and CEO of NEIL, told PTI today.
The company's projection for the turnover in 2020 is Rs 5,000 crore.
He said that the company recently got Deming Grand Prize- 2015, which was of huge significance as it recognises the company for the contribution in the field of Total Quality Management.
"This not only puts India but also Rajasthan on the world map. We are the first company from Rajasthan and also the first bearing company in the world to get this award. With this recognition, the world had become our market", said Saboo, who received the award on November 11 in Japan.
On "Make in India" initiative of Prime Minister Narendra Modi, Saboo said that the country would be able to create its own brand in years to come and would promote the manufacturing sector.
"Earlier, we would be compared with Chinese market. Now with the Prime Minister making a lot of Make in India branding, India may be creating a brand of its own and will create a niche which will be not compared to the Chinese market that is focused more on price instead of quality", he said.
NEIL, which exports its products to automotive companies in Germany, the USA, South Africa, Brazil and several other countries, is a part of CK Birla group and headquartered in Jaipur.
