Tamil Nadu can become world’s leading small car exporter: Dr Lalit S Kanodia

Chennai: Tamil Nadu has the potential to become the top most supplier of small and mid-sized cars to the world. The state can increase its overseas sales five-fold, said Dr Lalit S. Kanodia, national president, Indo American Chamber of Commerce (IACC).

IACC had a discussion with the state government on improving bilateral trade with the US. “We are leading a delegation from Chennai to the US to find out which sectors can we economic relation,” he said adding that sectors such as auto, aviation, pharma seem to have great prospects.

Chennai has a great potential in medical tourism and the Chamber will look at accelerating the potential in it. On bilateral trade between India and the U.S., he said figures are likely to touch $500 billion by 2025 as Indian economy is emerging and is most sought after developing market.

As of now the bilateral trade between the two countries is $103 billion. Citing the report published by research agency PwC and IACC on Indo-U.S. trade mission, he said trade between the two countries will grow through concerned efforts from all stakeholders — government leaders and investors, corporates, businesses and entrepreneurs.

Drivers to achieve this trade growth would be five key sectors including aerospace and defence (A&D), infrastructure and logistics, energy, manufacturing and services.

The US is currently looking for an alternative country to do trade with. Currently, it is very much dependent on China and 25 per cent of total manufacturing in the world is done in China. India can possibly become an alternative to China because of its size and education.