New Delhi, Dec 22: Export of auto components is expected to cross the one billion US dollar mark this financial year from 800 million dollars in 2002-03, the government informed the Rajya Sabha today. "The export of auto components from India was to the tune of 800 million us dollars during 2002-03. This is likely to cross the one billion dollar mark in financial year 2003-04," Minister of State for Heavy Industries Santosh Kumar Gangwar said.
He said some of the companies considering outsourcing from India are Volvo, General Motors, Ford, Fiat, Toyota, Delphi, Navistar, Cummins and Caterpillar. The outsourcing budgets of these companies are estimated to be in the range of 5-10 billion dollars over the next few years.
The minister said GM has set up an extensive research and development facility in India and Suzuki Motor Corp. of Japan has announced making India a hub for R&D on small cars.
Heavy Industries Minister Subodh Mohite said the government was considering relaxing the existing homologation conditions (suitability to Indian driving conditions) for import of cars.
On Cement Corporation, Gangwar said its sale is at "an advanced stage. The final decision regarding sale of individual units of CCI will be taken by BIFR". Bureau Report