BS reported that increased cost of manufacturing due to steep rise steel and oil prices globally, has forced the leading construction equipment manufacturer JCB to double its global sourcing from India.
JCB presently does around 15% of components and equipment sourcing from India for its worldwide plants and the same would cross 30% within this year.
Mr Matthew Taylor CEO of JCB group said this on Monday before rolling out the 75,000th JCB machine from India. He asserted that the advantage of low costs of manufacturing in India would make the country JCB's global sourcing hub.
Mr Vipin Sondhi MD of JCB India that "We have sufficient capacity to increase Indian sourcing. The country would soon develop as global sourcing hub for JCB."
