Ashok Leyland eyes $1 billion turnover

KOLKATA: Ashok Leyland is eyeing the $1 billion turnover mark in the current fiscal, with 10 per cent of revenues coming from exports.
"Our exports should rise from $60 million last year to $100 million in the current financial year because of the large Iraq order that we have secured," company managing director R Seshasayee said on the sidelines of a CII-organised export summit here on Tuesday.
"We want to keep the export contribution to revenue at 10 per cent for the next two years, after which we expect a big jump on the export front," he said. Capacities were being upgraded for the proposed export push, he added. He did not elaborate.
Ashok Leyland has a major presence in the Middle-East.
Seshasayee said talks were on with the Indian Steel Alliance to ensure that automobile manufacturers did not face any problems with regard to getting steel supplies on time. Ashok Leyland had not faced any problem in this regard so far, he added.
Seshasayee said he was personally not in favour of the formation of a steel regulator unless this body was being contemplated to address policy issues only. Companies planning to embark on exports should do so keeping long-term objectives in mind, he added.