India’s auto industry has become the 3rd largest ecosystem in the world, says Goyal
Minister of Commerce and Industry Piyush Goyal has encouraged the auto industry to make India more self-reliant and explore opportunities for promoting exports.
While addressing the 63rd Annual Convention of Society of Indian Automobile Manufacturers (SIAM) as the Chief Guest on 13 Sept in New Delhi, the Minister said that India’s auto industry that has become the 3rd largest ecosystem in the world must aspire and work towards becoming the largest in the world.
He highlighted the 3Ds: Democracy, Demographic Dividend and Diversity of India that will help the automobile industry to grow faster and make its future a bright one, gradually adopting Aatma Nirbharta in a big way.
Though the industry has reduced its import dependence, there is further scope for localization, he said, calling on all the industry players to introspect on this issue.
The Minister urged the stakeholders of the auto industry to explore the idea of apprenticeship and expand the skilled workforce available for the industry. The apprenticeship programme has tremendous potential to help the youth especially as it provides them stipend while undergoing skill development.
Goyal told the auto industry to expect exponential demand growth.
He underlined the importance for the industry to provide information on the products coming in to see if there is a level playing field between Indian suppliers and overseas suppliers.
Elaborating, he urged the SCALE Committee (Steering Committee for Advancing Local Value-Add and Exports) to reassess the requirement of imported goods and encourage research and development in the industrial sector to make India Self-Reliant and a sourcing hub for the rest of the world. Fiinews.com
