Auto-component manufacturers should focus on quality and value addition: Piyush Goyal

New Delhi, Sept 15 (KNN) The future of Automotive Component Industry rests on being more connected, focussing on Convenience, orienting towards Clean Energy and clean mobility and using Cutting-edge technology, Union Minister of commerce and Industry, Piyush Goyal said on Wednesday.

While addressing the 62nd Automotive Component Manufacturers Association (ACMA) Annual Session in New Delhi, Goyal gave 5 point action agenda to the Industry:

Focus on Quality in order to become globally competitive and reduce dependence on import. Think holistically and have a larger vision to engage with others in the spirit of openness and competitiveness. Give emphasis on Value Addition. Exit Uncompetitive market and explore new market opportunities in the sectors where we can be competitive. Think big and set aggressive targets and ambitions for the industry.

He asked the Industry to organise in a way so that the informal sector and smaller players also can benefit from support of the Government.

Complementing the Industry for focussing on localization and promoting local auto components, Commerce Minister asked the Auto component industry to approach the government in case they face any pressure or are forced to import from preferred suppliers rather than localising. 

“In the last few years, the industry has faced a lot of challenges mainly due to the Pandemic. But the worst days are now over and the industry should now focus on Quality and cost competitiveness,” he said.

Recognizing the huge potential of the automotive sector, Goyal said the Industry contributes significantly to the GDP, creates jobs, encourages skill development, values talents and has an ecosystem which has a considerable impact on the society.

He reiterated the commitment of the Government in supporting the Industry through initiatives such as Production Linked Incentive Scheme (PLI). The government is focussed on supporting the semiconductor ecosystem also, he added.  

Noting that the countries across the world are looking for trusted partners and resilient supply chains, the Minister said, “I don't think there is a comparable opportunity of the size and scale of India anywhere else in the World”.

The government is currently in talks on FTAs with several countries. It has also been motivating the local industry to expand its footprints internationally and make India a world leader in Auto Industry.  (KNN Bureau)