As a percentage of world exports India’s share accounts for a measly 1.6 percent even though its economy is 3.1 percent of world GDP. “These are clearly not going to get us to the trillion dollar mark,” says Jayant Dasgupta, who represented India at the World Trade Organization. Our traditional export areas have comprised petroleum products, gems and jewellery, textiles, cotton, minerals (mainly iron ore), tea, coffee and buffalo meat. Importantly, the products that companies like ABB export are not areas where India has had a competitive advantage. He points to how the Group is actively looking at increasing exports from India complemented by the efforts of local talent to upskill themselves in a global environment, work on product customisation, and to increase localisation standards. “China +1, like elsewhere is a topic at ABB,” says TK Sridhar, chief financial officer at ABB.
Can it fuel a much needed revival of the economy? It’s an area the company expects to focus on in the years ahead. While ABB India doesn’t break out export numbers for specific products it’s fair to say that 12-15 percent of its Rs8500 crore turnover comprises of exports. Expect products from there to be exported too. Or its recent expansion in Nashik announced in February. A large part of that production is dedicated to exports. Take for instance its factory that makes relays in Vadodara. It’s a test they’ve passed and the product, which is now 100 percent localised, is sent to ABB customers across the globe.Īnd it’s not just motors. The unit of the Swedish-Swiss multinational makes motors for exports and its employees have been tasked with making sure they get the quality and specifications right. According to Dasgupta, this shift in the reorientation of Indian exports is crucial to us getting to a trillion dollars.Īt an ABB India factory in Faridabad employees regularly walk over to take a look at a low voltage motor kept on the shop floor.
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