India must aggressively put in place FTAs (Free Trade Agreements) as that will help boost the country’s export efforts, said Nigel Harris, president, Ford India, in his remarks at last week’s SIAM annual convention.
15 Sep 2014 | 2945 Views | By Autocar Pro News Desk
India must aggressively put in place FTAs (Free Trade Agreements) as that will help boost the country’s export efforts, said Nigel Harris, president, Ford India, in his remarks at last week’s SIAM annual convention.
Ford India currently exports its vehicles to 50 countries and there are plans to add ...
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India must aggressively put in place FTAs (Free Trade Agreements) as that will help boost the country’s export efforts, said Nigel Harris, president, Ford India, in his remarks at last week’s SIAM annual convention.
Ford India currently exports its vehicles to 50 countries and there are plans to add to the number of destinations served out of India. The EcoSport is currently exported to Australia, Thailand, Mexico and Germany to name but a few countries.
Ford has already made its intentions clear that India is an export hub for Ford India. With its Sanand plant slated to commence operations in early 2015, Ford will tap the ports in Gujarat in order to enhance its export efforts.
India’s oldest FTA is the one it signed with Thailand but going forward, talks have begin for an FTA with Australia that is expected to be conclude by the end of 2016. As Australia winds down car manufacturing, it is an opportunity for Indian OEMs to export their products. In the year gone by, OEMs have looked to leveraging export opportunities to de-risk the local market which has been going through a tough phase.
India has agreements with ASEAN (separate from Thailand), Sri Lanka, Singapore and several others and is in negotiations for one with the European Union. Among the countries that have pursed FTAs aggressively is Mexico that has signed FTAs with at least 40 countries, twice that of India.