The Hindu Business Line : Govt support wanting, says Hyundai

Chennai, Aug 12 The Managing Director of Hyundai Motor India Ltd, Mr H.S. Lheem, on Tuesday rued that neither the Centre nor the Tamil Nadu Government was supportive of the company’s export efforts.

While answering questions at a discussion on globalisation organised here by the Confederation of Indian Industry, Mr Lheem said the Government was not ready for globalisation.

Hyundai, he noted, had 67 per cent share of exports of passenger cars from India, and yet the Government offered no support to the company. “Not one rupee. The government officers just don’t care,” he said.

Later, when Business Line caught up with him to ask what kind of support he expected from the Government, he said, “any support.”

Mr Lheem noted that Hyundai made loss on all exports to developing countries because of the appreciation of the rupee against the dollar.

Other officials of Hyundai explained that although the company, being also an importer of components and materials, enjoyed a certain amount of natural hedge “we still take a hit.”

Earlier in his speech, Mr Lheem noted that infrastructure was still lacking, especially connectivity between Sriperumbudur (where the company’s plant is located) and the Chennai port. He also wanted “stable tax policies as unstable tax policies upset our plant.” Mr Lheem said Hyundai and its vendors have invested Rs 11,700 crore in Tamil Nadu.

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