India Auto Growth Plan Focuses On Exports

Investment could reach US$40 billion by 2016.

India Prime Minister Manmohan Singh launched a 10-year automotive-investment plan that calls for a US$35 billion to US$40 billion to fund the growth and development of India's auto industry, according to a statement released by the Automotive Component Manufacturers Association of India.

The document, Automotive Mission Plan (AMP) 2006-2016, was released on Jan. 29 and includes 25 key recommendations focused on securing the investment goal. Part of the plan also targets export growth, which AMP intends to accomplish partly from infrastructure upgrades, auto parks and special economic zones. But the report also calls on Indian manufacturers that currently are not exporting to "initiate action to make India an export base."

Among the provisions added to the original version of the AMP were incentives to build vehicles for people with disabilities and the creation of a technology modernization fund with special emphasis on small and medium enterprises.

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