According to recent reports, Renault will soon join one of the many global auto manufacturers looking to India as their source for auto components, as Japan is steel reeling from the March 11 natural disaster. The second largest manufacturer of cars, Renault stated that they are expecting to source auto components worth 100mn Euros or above Rs.600 crore from India by 2012, as they are looking to slowly increase auto parts purchased from India to meet their global business requirements.
The deputy managing director of the company’s Indian division, Sudhir Rao, said that in the year 2010, their company had sourced auto components worth 35mn Euros from India. In 2011, they expect the components sourced to range between 75 to 80mn Euros. By 2012, the company expects this figure to touch 100mn Euros.
The company sources high engineering products from India. Renault backed out of its unsuccessful partnership with Mahindra & Mahindra, last year. They just recently reentered the market on their own with the launch of their new Renault which we recently reported about.