Leveraging export growth with car hubs

The upcoming car hubs at various ports could well set the pace for a faster export growth. This is evident following the announcements in quick succession, all within a week's time in the month of February this year, of the setting up of three hubs at Mundra, Chennai and Ennore.With this car shipments from the country are bound to zoom once the hubs come into place.

It began with Mr Shinzo Nakanishi, Managing Director and CEO of Maruti Suzuki India Ltd (MSIL) signing an agreement on February 20th with Mr Gautam S. Adani, Chairman and MD of Mundra Port and Special Economic Zone Ltd (MPSEZ) for a mega car terminal, which is expected to be operational by December 2008, at Mundra in Gujarat. A few days later, Chennai and Ennore ports announced the setting up of car hubs at their ports for which separate agreements were signed.

"The initial investment in the Mundra car hub project of around Rs 100 crore will go toward providing storage space, repairs, painting and refurbishment of the vehicles prior to shipment," stated Capt Sandeep Mehta, CEO of Mundra Port, the largest private port in the country.

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