Bajaj Auto, one of the largest two wheeler makers in the world, has opened its first overseas office in Dubai aiming to boost exports, which topped $70 million last year.
"Opening of the Dubai office at the Jebel Ali free zone is part of the company's efforts to double the exports in the next couple of years with the target for this year set at $100 million," Rajiv Bajaj, joint managing director, Bajaj Auto told reporters.
Though the company had virtually no exports only four years ago, last year it exported about 94,000 vehicles in both two and three wheeler segments, he said.
Seventy per cent of the exports were to countries in the subcontinent -- Sri Lanka and Bangladesh -- where in a short time, the company had emerged as market leaders, he added.
Ahmed Butti Ahmed, managing director of Jebel Ali Free Zone said all support will be extended to Bajaj for realising a quantum jump in its exports particularly to countries in the region and to North and East Africa.
Inaugurating an exclusive company showroom, Bajaj announced the global launch of a specially designed motorcycle for the courier and delivery segment called the 'Bajaj Eliminator' aimed at the courier industry.
The joint managing director said Bajaj sold around 3500 vehicles including 1500 three wheelers last year in Egypt where it had one of the big business groups as a partner.
"The three wheelers in Egypt has proved extremely popular particularly in the smaller towns and villages where it has revolutionalised personal transport and Bajaj was looking at expanding exports there considerably in the coming years," he said.
The Dubai office is also expected to service the growing market in Iran where more than 3000 Bajaj vehicles were sold last year and exports were expected to surge there too.
Bajaj, which employs over 11,000 people in its plants in four states, recorded sales of $1.025 billion in 2002-2003 earning an after tax profit of $113 million.