India On Britain For Largest Exports

By By: Vicky.in

Published: Wednesday, October 6, 2010, 10:42 [IST]

With the sale of Indian passenger cars reaching the tune of 1 million, India looks on the British automobile market as the largest export venue. This volume is an eight-fold rise in the period of 2006-10 from million four years ago, said the FICCI. Italy comes after Britain with the business tune of 3.77 and Germany (3.22 million), the Netherlands (7.51 million) and South Africa (9.95 million).

FICCI claimed that the passenger cars from the Indian firms got major recognition -76 percent - in all these markets followed by two wheelers. The Compounded Annual Growth Rate of these two vehicle volumes is 31 percent for passenger cars and 24 percent for two wheelers.

However, the contribution from the commercial vehicles and tractor had been less in the last five years. A substantial feeding for commercial cars came from Singapore and the US stands as the largest tractor market wherein Nepal stands on top. The US seems to encourage the tractor market despite a fall from 9 million to 9 million during the past three years. Out of the net industry export volume of .5 billion, 1 percent is shared by the automobile export which made India rank 22 among the world nations.

Article Published On: Wednesday, October 6, 2010, 10:22 [IST]

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