Industry body FICCI on Monday said India should form a separate export promotion council for the country's automotive sector to achieve five per cent share in the global automotive trade in the next 10 years.
"FICCI has expressed the need for forming a separate export promotion council for India's automotive sector that would work with a mission of achieving five per cent share for India in the global automotive trade," the chamber said in a statement.
The current share of India in the global automotive trade is only about 0.5 per cent. It was 0.2 per cent in 2000, it added.
FICCI pointed out that India's automotive exports stood at 5.8 billion dollars in 2007 compared to 54.9 billion dollars for China, 43.9 billion dollars for Mexico, 19.5 billion dollars for Brazil, 18.2 billion dollars for Turkey and 14.6 billion dollars for Thailand in the same year.
"The primary objective of the council would be to help the Indian auto sector to achieve five per cent share in global trade in the next 10 years by identifying the true potential for exports of various categories of automotive products from India," the statement said.