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Iran Khodro Industrial Group (IKCO), Iran’s largest automobile manufacturer, is aiming for expansion of its automotive business to additional nations despite the US sanctions, following its successful car exports to Russia and has now set its sights on India.
After having captured the markets of Venezuela and Russia the company, Iranian automaker Khodro, is determined to increase its car production to meet the demands of its partner countries.

Leila Yusufi, the logistics manager at Khodro, expressed confidence in expanding the market to India when questioned about the company’s plans for the Indian market. She stated, “Certainly, if India permits, we will enter the Indian market.”

Yusufi said, “Sure. If India will allow. We will come to India.”

According to Khodro, they have the capacity to produce more than 40 cars per hour.

“We are currently able to producing 43 cars per hour and we are sending our cars to Venezuela and Russia,” Leila told ANI.

Iran is confident to produce more cars to meet the demand of their partner countries.

On being asked if Iran is facing challenges in automobile manufacturing due to US sanctions, logistics manager of IKCO said “We have defeated that. There were many problems but we have been able to overcome the sanction, fortunately.”

“But it was very difficult,” she added.

The US has imposed restrictions on activities with Iran under various legal authorities since 1979, following the seizure of the US Embassy in Tehran.

The Department of State’s Office of Economic Sanctions Policy and Implementation is responsible for enforcing and implementing a number of US sanctions programmes that restrict access to the United States for companies that engage in certain commercial activities in Iran.

IKCO is also planning to take new technologies from other countries, said Leila, noting, “the development of the country is one of our most important plans and we are looking for new technologies from other countries.”

According to IKCO, Iran produces about 85 per cent of automobile parts in the country as Make in Iran products and the remaining 15 per cent in other countries. (ANI)

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Taiwan-India business ties got a fresh boost after a delegation from the self-governed island visited a number of Indian states earlier this month which led to the signing of three Taiwan-India memorandums of understanding aimed at fostering electronics manufacturing and green technologies, according to the Taiwan-based English-language website Common Wealth Magazine.

Several high-level business delegations from Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) and Taiwan India Business Association (TIBA) visited India to explore the untapped business potential between the two sides.
Writing for the Common Wealth Magazine, Taipei-based attorney Arpita Dutta said the three important items on the agenda of the delegation visit were: “visiting India based-Taiwanese businesses, visiting potential Indian business partners, and organizing a rigorous discussion with the state governments including the IT ministers of several states.”

According to Dutta, key takeaways from the delegation’s visit included, the recognition of the fact that India has an abundant talent pool and that wise use of Indian talent will maximize business growth.

The role of product localization in penetrating the 1.4 billion Indian market and the appropriate supply chain for streamlining business management, were also noted. Another theme that came across was the need to break the monotonous thinking of India-Taiwan cultural barriers.

Arpita Dutta, in the Common Wealth Magazine article, contended that this delegation visit was an essential step since it aimed to understand the gaps and opportunities to advocate the sustainability of Taiwanese business in a new jurisdiction.

She said intense and engaging talks with the “Indian government and Taiwanese companies surely will open doors to more collaboration in the foreseeable future.”

“The policies ‘Made in India’ and ‘Production Incentive Evolution’ along with several other subsidies can complement Taiwan’s ‘New Southbound Policy,’ and Taiwan-India collaboration will turn the aspiration of an Indian manufacturing hub into reality,” she added.

Dutta, who herself was part of the visit to prominent Indian entities, said the delegate saw their utmost collaborative lookout from a broad perspective, which clearly showed how India-Taiwan hardware and software collaboration will create a new dimension in the IT industry.

“The insights from this trip might provide sufficient confidence to Taiwanese companies that are under certain stereotypical impressions about India,” she added. (ANI)

Tag: indian market

Iran Aims To Expand Its Automobile Sale Internationally, Indian Market On Cards

Taiwan Delegation’s India Visit A Fresh Boost To Business Ties