'Gaps' preventing Indian auto Cos from becoming global: M&M

Mahindra and Mahindra on Thursday said there are still some gaps preventing the Indian automobile companies from becoming global brands.

"An automobile brand has to first become a Made in India brand before becoming a global brand," Pawan Goenka, Managing Director, Mahindra and Mahindra, said at the 57th Society of Indian Automobile Manufacturers (SIAM) Annual Convention here.

"How do the auto companies from emerging markets become global? Brand India should be so strong that Indian manufacturing is welcomed by the world," he said.

Goenka said the original equipment manufacturers and suppliers in the sector from India and China were vying to conquer global markets.

"By 2026, India is likely to be among the top three countries in the automotive industry," he noted.

Citing the example of Maruti Suzuki, he said even a company from emerging markets with limited resources, processes and technology could become global.

"Maruti Suzuki is a perfect example of local company going global... The company developed with the help of local suppliers and technology from global company. It was global company acting local," he added.

--IANS

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