Wabco India targets 8-fold export growth by 2015

Chennai: Commercial vehicle parts supplier Wabco India is seeing an eight-fold jump in exports to Rs 1,000 crore in 2015, from Rs 118 crore now, according to a research report. "Management guided export revenues growth from Rs 1.18bn in FY11 to Rs 10bn in FY15," said a Spark Capital Report, after an investor-management meet. "The management was positive on the export momentum due to the cost advantage enjoyed by India, and the entire range of Wabco's products becoming available with Wabco taking majority control," the report said. It can be recalled that this is coming post Wabco taking majority control of its Indian arm, after the TVS Group sold its stake in what originally was a joint venture called Wabco-TVS. The key driver for Wabco's export growth story is likely to be the South American business. Wabco India had revenues of Rs 889 crore in 2011.