Wednesday, August 07, 2013: While the Indian economy is facing the heat of the falling Indian rupee, the auto industry has been an exception. Thanks to the steep slide in the rupee, India is now one of the cheapest sourcing destinations in the automotive map, edging out arch rivals like China, Mexico and eastern Europe. Officials in companies like Renault, Nissan, Ford and others say that India is now the cheapest place in the world to source parts and cars from.
Vincent Cobee, corporate VP, Datsun Business Unit, has been quoted as saying, “India is now one of the cheapest places in the world because the rupee is sliding while the Chinese Renminbi is getting stronger, so it is good for local production and exports. Although there are some components, particularly in the electronics domain, which can only be sourced from China, in other respects, the rupee’s slide has made Indian components more competitive.”
