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Auto spares industry can benefit from exports to Japan

Smaller units manufacturing machine tools, auto components, castings and forgings can benefit from Japan's decision to removal customs duties on 86% of products, experts said at a seminar in Ahmedabad on Tuesday. The move is part of a bilateral treaty and will enable India raise its share in Japan's imports.

"Japanese companies do not have the idea of capacities of Indian companies. We need to educate them," Rajat Srivastava, director for the western region of Engineering Export Promotion Council (EEPC) told media persons during a seminar 'Doing Business with Japan' in Ahmedabad on Tuesday.

EEPC will showcase capabilities of smaller Indian companies at the 'India Show' as a part of Mechanical Components and Materials Technology Expo (M-Tech) to be organised in Tokyo from June 20-22. India is partner countries in the show, enabling it send more companies to the show than other countries.

Srivastava laments that most Indian companies believe, they can't export to Japan. This has limited Indian exports to only $6.135 billion of the total Japanese imports worth $794.7 billion. China's exports to Japan stand at $183 billion, while that of Singapore and Malaysia stands at $16.5 billion and $24 billion respectively.