Bangalore: German-based global auto major DaimlerChrysler AG plans to outsource components valued at over $ 70 million during 2003 from India for its manufacturing units in the US and Germany, a top company official said on July 19.

"Last year (2002), the exports from 28 suppliers in India were about $ 65 million. This year (2003) we intend to export components worth over $ 70 million," DaimlerChrysler India Board member Suhas Kadlaskar said at the launch of the "Mercedes Benz C-class Kompressor" luxury car.

Admitting that the initial export of 3,500 cars during 1999-2000 from India directly competed with DaimlerChrysler's car units in Europe and US, he said the company had changed its strategy to exporting components, which were 10 per cent to 15 per cent cheaper than produced elsewhere.

Kadlaskar said the company had 28 firms in India, which supplied components for its global operations.

DaimlerChrysler has invested over Rs 600 crore at its manufacturing unit in Pune and reported a revenue of Rs 320 crore and profit before tax of Rs 39 crore during 2002.

The German auto major has sold over 8,000 cars in India with last year sales at 1,250 units. "We plan to sell over 1,550 cars this year," Kadlaskar said.

Sundaram Motors vice president Sharath Vijayaraghavan said Bangalore was the fastest growing market for Daimler, with over 200 Mercedes cars booked for this year.

PTI