Auto component firms eye higher exports, low imports to become self-reliant

Top official at various auto component firms said exports, which anyways have been intrinsic to the overall strategy, will increase at a rapid pace over the next two to five years

Auto component makers are looking to shore up exports and cut down on imports as they seek to reduce vulnerability to currency swings and become self-reliant.

Top executives at various auto component firms said exports, which have been intrinsic to the overall strategy, will likely increase at a rapid pace over 2-5 years. These firms, however, will continue to import high volume, low-value parts, as making them in India is financially unviable given higher logistics and power costs.   

F R Singhvi, joint managing director at Bengaluru-based Sansera Engineering, said his firm a manufacturer and supplier of critical engine parts, is looking