Minda Corporation plans to triple exports from India, Indonesia, and Vietnam in five years. Executive Director Aakash Minda said the firm is investing in supply chain resilience, localisation of electronics, and scaling up manufacturing in India.
Minda Corporation Ltd is supplying auto components to almost all automotive manufacturers in the country and its focus is to triple exports in the next five years from India and plant locations in Indonesia and Vietnam, the company's Executive Director Aakash Minda said on Thursday.
In an interview with ANI, Aakash Minda said that the company is investing in making its supply chain resilient and is creating long-term partnerships. "We are supplying to almost all the automotive manufacturers in India, whether it is Maruti, Tata, Mahindra, Bajaj, TVS, HMSI. We are also exporting about 10%. So, our focus for the next five years is how we can triple our exports from India as well as from our plant locations in Indonesia and Vietnam," he said.
Investment in Localisation and Supply Chain
Aakash Minda said investment is being made for the localisation of a lot of electronic parts. "What we are now investing is making our supply chain resilient on localisation, on account of digitisation as well as creating long-term partnerships all across, where we can make in India for the world and also whether electric vehicle mobility is coming in, making components for that as well as the electronics. So, localisation on a lot of electronic parts as well, that's where we are investing in now," he said.
Expansion and Investment Plans in India
Aakash Minda said that he has also signed an MoU with the Maharashtra government and met the Finance Minister of Uttar Pradesh for investing in the state. Minda Corporation Ltd is a leading auto manufacturer in India. "I think Davos is a place where you meet global leaders, policymakers and how we are looking at India to grow in terms of making key supply chain and the key manufacturing partner globally. This is the regard in which I have come here. I have also met and signed an MoU with the Maharashtra CM; we are investing close to about Rs 1200 crores starting from this year onwards for the next 5-6 years for scaling up the manufacturing industry," he said.
"We have just met the Finance Minister of UP for investing in UP which is our headquarters on how we can scale and build a resilient supply chain in India for the automotive componenets industry," he added.
Navigating US Tariffs
Asked about the US tariff and its impact on his company, Aakash Minda said while there are short-term impacts, things would ease out in the long term. "It is impacting in the short term. But I think things are going to ease out in the long term and the supply chain is going to continue. So, the overall supply chain in the automotive industry is changing across the world," he said.
"So, we want to be a very important part of this game. We are going to figure out our way on how we can export from different parts of the country as well as from other Asian countries as well to the US," he added.
India's Automotive Industry
India's automotive industry is a cornerstone of the nation's manufacturing and economic growth, contributing 7.1% to India's Gross Domestic Product (GDP) and 49% to manufacturing GDP, as per a NITI Aayog report. (ANI)
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