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Amber Enterprises India Ltd., one of the biggest potential beneficiaries of Prime Minister Narendra Modi’s ambitious self-reliance program, forecasts higher overseas sales aided by government incentives.
The Gurgaon-based firm, which manufactures parts for air conditioners, washing machines and other appliances produced by the likes of LG Electronics Inc., Hitachi Ltd. and Voltas Ltd., aims to earn 10 per cent-15 per cent of revenue from exports in five years, up from almost nothing right now. It is building two new factories and predicts Modi’s administration will use non-tariff measures such as banning the import of such components to boost local manufacturing.