In a bid to tap the future Rs 900 crore navigation systems market in
India, leading Korean GPS equipments manufacturer J Communication Ltd
has set up its first off-shore facility in Chakan near Pune.
Being built in collaboration with Pune-based Bharat Navigation Pvt Ltd
(BNPL), the unit will start delivering global positioning navigation
system products from October onwards.
J Communication, General Manager Kenny Kwon told Business Standard,
the company plans to export its products manufactured in India to
south asian countries and Europe.
Hyderabad-based SatNav Technologies will provide the necessary
software and maps to the GPS equipments manufactured at the Chakan
plant.
"Indian automobile industry is growing at five per cent annually. The
automobile market in India would be worth Rs 7,60,000 crore by year
2012 and that ensures immense potential for GPS equipments in the
country.
The car accessaries market will also cross Rs 56,000 crore in another
three years. We are trying to explore the market opportunties in this
segment through our new venture," Bharat Navigation Managing Director
Summit Salunke told Business Standard .
Bharat Navigation will deliver GPS equipments comprising of video and
audio players along with picture viewer and GPS tracking unit.
"There are only two players in India in this particular segment. With
competitive pricing and a strong software and mapping support for 72
cities in the country, we plan to achieve sales worth Rs 50 crore
during the first year," said Salunke. Bharat Navigation has priced its
products between Rs 16,000 to Rs 23,000.
J Communication, a Rs 240 crore Korean company, would primarily look
into the manufacturing and technology support for the products while
Bharat Navigation will take care of marketing and sales. "We will
disclose the share holdings in the joint venture in near future,"
Salunke stated.
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