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To support the growth of the automotive business, the company operates three labs at Pune, Manesar and Delhi. – Mr Nirmal Minda

V. Rishi Kumar

Hyderabad, Dec. 26 Automotive component manufacturer Minda Industries Ltd has filed for about 10 patents through its R&D division, and plans to step up investments to meet the increasing demand for automotive research.

One of the company’s innovations “Intelligent non-contact handle bar with self cancellation blinkers” has received National R&D Award for 2007 by the Department of Scientific and Industrial Research, Ministry of Science and Technology, recently.

This product, designed by the company R&D labs, hosts a new handle bar control system for motorcycles. This includes left and right hand side handle bar switch, mounting bracket assembly for self cancellation blinkers and electronic body control unit for motorcycles, according to Mr Nirmal K. Minda, Managing Director, Minda Industries Ltd.

Mr Minda told Business Line that while the two-wheeler market has registered de-growth during the year, the four-wheeler market has grown by about 12 per cent during the year. With most of the global major manufacturers such as Volkswagen, Renault, Nissan announcing their plans for expansion in India, this presents automotive component manufacturers with good prospects.

“To support the growth of the automotive business, the company currently operates three labs at Pune, Manesar and Delhi. We now plan to further expand these centres to meet the growing business,” he said.

The company has invested about Rs 50 crore in these R&D centres and plans to step up fund infusion which could go up from about 3 per cent of the total revenues of Rs 1,000 crore to 6-7 per cent, Mr Minda said.

The company has already registered about 20 designs and expects to step this up further with ventures with automotive companies such as Valeo, with whom the company has venture for starter motors.

On expansion plans, Mr Minda said that the company was scouting for acquisitions in the automotive component business, particularly in the European market, which would meet the requirements of companies setting up their manufacturing bases in India.

“The company expects to meet the funding requirement through internal accruals. However, we are evaluating options to raise additional funds next fiscal and expect to firm up plans by March 2008,” Mr Minda said.

More Stories on : IPR | Research & Development | Automobile Components

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