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Area companies see future in non-traditional markets

While local manufacturers have done a good job globalizing themselves in the last decade by expanding their markets and in the placement of their factories, Azzopardi said if we don’t move on India we’ll be left behind. India is now the fourth largest auto market in the world with over four million vehicles sold last year.

Azzopardi said the key to diversification is for local companies to take what they do well now for the automotive industry and see how it can be used in other industries and non-traditional markets.

“Automation, artificial intelligence, electric vehicles components, light weighting, manufacturing and agriculture, there are so many angles to come at this,” Azzopardi said. “We need to start looking at the broader base and planning.

“We have to start filling the gaps and we can do that. If we don’t, Europe, the U.S., China and even Africa will fill those gaps.”

 

 

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