Winner: Valeo Friction Materials India Pvt. Ltd.
Auto Component Exporter Of The Year Nominees are:
Advantek Fuel Systems Pvt. Ltd. Valeo Friction Materials India Pvt. Ltd. ZF India Pvt. Ltd.
A single integrated CNG filling valve
Facings for clutches, tractor brakes and friction washer Commercial vehicle axle shock absorbers
The outbreak of the pandemic aggravated the situation and impacted global trade equations. Indian auto component manufacturers, in the first half of fiscal 2020-21, for the first time ever, witnessed a trade surplus. Auto component exports declined by 23.6 per cent to Rs.39,003 crore (USD
5.2 billion) in H1 2020-21 from Rs.51,028 crore (USD 7.4 billion) in H1 2019-20 to give a backdrop. The winner’s total export sales accounted for seven per cent of total annual business in 2019. In 2020, the company entered new territories such as South America, Balkans, SAARC nations and ASEAN countries. Establishing its exports business, the winner was able to achieve a significant milestone of 145 per cent growth in exports accounting for 19 per cent of the overall annual business. The company attributes the success to key initiatives like strategic pricing of the products, effective negotiation, submitting the samples to prospective customers, rapid testing and validation, proactive and effective planning of deliveries to circumvent the logistic and supply chain challenges, reaching out and re-establishing connect with the existing network to leverage new business opportunities, identification of new customers in new geographies besides participation in overseas automobile/components expo to create awareness around its products and technologies.