Japanese auto major Honda is looking at stepping up supply of components from India to its various international operations. The company is targeting exporting components worth Rs 1400-1500 crore in the current financial year, nearly double of around Rs 700 crore registered two years back.
“India offers competitive advantage in terms of both quality and cost”, said Raman Kumar Sharma director Honda Cars India (HCIL) making the company scale up exports from here to advanced markets such as UK, Turkey, Canada, United States and even Japan. Sharma informed, “We have been exporting a lot of components from India both in terms of volumes and the basket of products we ship out. The domestic market is also large making the country a viable destination for making investments as far as manufacturing is concerned.” Honda’s exports of auto components from India has been gradually increasing over the last few years. In 2013-14, its component exports had a turnover of Rs 420 crore, which increased to Rs 722 crore in 2014-15 and to Rs 1000 crore in 2015-16.