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Largest air bag suppliers of the world are setting up plants and increases the capacity in India on account of tougher rules that are aimed at improving the road safety of the country.
Harish Lakshman, managing director of air bag maker Rane TRW Steering Systems Ltd said, “(This is a) good time to build capacity and the right time to invest to grow the business.”
According to Transparency Market Research data, in India, by 2020, the overall revenues from airbag sales are set to increase 11% a year to hit USD 2 billion outpacing the 9% growth expected in China.
