Govt asks auto industry to cut imports, raise exports
4 years, 4 months ago

Govt asks auto industry to cut imports, raise exports

Live Mint  

Senior ministers of the Union government took Prime Minister Narendra Modi’s clarion call of Atmanirbhar Bharat forward and urged automakers to reduce their dependence on imports, increase exports, and make India a global manufacturing hub for automobiles and auto components. Minister of railways, and commerce and industry Piyush Goyal and minister of environment, forest and climate change Prakash Javadekar also urged the auto sector to boost local manufacturing at the annual conventions organized by the Society of Indian Automobile Manufacturers and the Automotive Component Manufacturers Association of India, held on 4-5 September. Gadkari urged the industry to develop import substitutes and increase investment in research and development and export volumes and said that the government will set up industrial clusters along the 12-lane, 1,400km Mumbai-Delhi expressway. “The auto industry should reduce dependence on imports, specifically in areas such as steel, tyres, and electronic parts,” Goyal said.

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History of this topic

Manufacturing makeover: Clusters near infra hubs, tax reforms likely in Budget 2025
4 days, 7 hours ago

Manufacturing makeover: Clusters near infra hubs, tax reforms likely in Budget 2025

Live Mint  

New Delhi: The Union government is looking to fire up manufacturing activity—a crucial engine of economic growth that’s significantly slowed—by announcing factory clusters near major infrastructure projects and changes to tax and customs duties in the upcoming Budget. Two officials familiar with the government’s thinking said the manufacturing clusters would strategically align with key infrastructure projects in logistic sectors such …

Duty cut on smartphone parts to hit electronics ecosystem, trigger job loss: GTRI
1 week, 1 day ago

Duty cut on smartphone parts to hit electronics ecosystem, trigger job loss: GTRI

Live Mint  

New Delhi, Jan 7 Any reduction in the customs duty on smartphone parts in the forthcoming budget will harm India's developing component ecosystem, discourage investment, increase imports, and make local firms uncompetitive, potentially resulting in job losses, think tank GTRI said on Tuesday. Highlighting six key risks of reducing tariffs, he said any reduction would harm India's developing component ecosystem, …

Indian manufacturing must adapt to constant flux in a dynamic world
3 weeks, 5 days ago

Indian manufacturing must adapt to constant flux in a dynamic world

Live Mint  

The global economic landscape is becoming increasingly interlinked and dynamic. Despite multiple shifts, 2023 saw global merchandise exports worth over $24 trillion, an increase of 6% over 2019, demonstrating resilience in the face of disruptions. Focused reforms since then, including the production-linked incentive schemes and ‘Make in India’ initiative, combined with infrastructure development programmes, trade agreements and stronger participation in …

Textiles, auto components and telecom vulnerable to tariff war
1 month, 4 weeks ago

Textiles, auto components and telecom vulnerable to tariff war

Deccan Chronicle  

Chennai: US, being the largest market for India, probable tariff hikes under the Trump presidency can impact shipments of certain segments, including textiles, chemicals, metal products, and telecom products. Any adverse policy action around tariffs or taxes could affect India's competitiveness against countries like Bangladesh and Vietnam. Any rise in duties could impact the Indian export volumes substantially, which may …

How India can fix the Chinese imports problem
3 months, 1 week ago

How India can fix the Chinese imports problem

Live Mint  

India last month extended countervailing duties of 12-30% on certain steel imports from China and Vietnam, following requests from local producers to safeguard against cheaper imports. Read this | Mint Primer | China’s stimulus: What it spells for India & the world A growing economy like India’s naturally requires more imports to meet rising consumption and manufacturing demand, with cost …

Govt should rationalise customs duty in budget to boost domestic manufacturing: Industry body
5 months, 4 weeks ago

Govt should rationalise customs duty in budget to boost domestic manufacturing: Industry body

New Indian Express  

New Delhi:The Indian Chamber of Commerce has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing. ICC President Ameya Prabhu said protective measures are needed for the growth of domestic industry in sectors including steel, solar battery, aluminum, and lithium cells. Huge potential is …

Tata shifts gears: Considers importing Jaguar Land Rover EVs after government cuts import duty from 100% to 15%
8 months, 3 weeks ago

Tata shifts gears: Considers importing Jaguar Land Rover EVs after government cuts import duty from 100% to 15%

Live Mint  

India's Tata Motors is planning to import its Jaguar Land Rover luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, according to a Reuters report. Import duties on some EV models have been slashed from as high as 100 percent to just 15 percent, provided the carmaker invests at …

Tesla: Red carpet welcome in India?
9 months, 4 weeks ago

Tesla: Red carpet welcome in India?

Live Mint  

India has announced a policy for electric vehicles that lowers the import duty for foreign-made EVs brought in by overseas auto majors. They’ll be allowed to import annually up to 8,000 EVs valued at $35,000 or more at a reduced import duty of 15% for five years, provided they invest at least $500 million in local manufacturing over the next …

Union Govt approves electric vehicle policy to make India a EV manufacturing hub
9 months, 4 weeks ago

Union Govt approves electric vehicle policy to make India a EV manufacturing hub

Op India  

In a move towards bolstering India’s position as a manufacturing powerhouse for electric vehicles, the Union Government has greenlit a comprehensive scheme aimed at attracting investments in the EV sector and promoting indigenous manufacturing of EVs equipped with cutting-edge technology. The overarching objective of the newly approved E-Vehicle Policy is to facilitate the manufacturing of EVs in India, thereby providing …

'We will transform India into a global export hub': PM Modi inaugurates Bharat Tex 2024 at Delhi's Bharat Mandapam
10 months, 2 weeks ago

'We will transform India into a global export hub': PM Modi inaugurates Bharat Tex 2024 at Delhi's Bharat Mandapam

Op India  

Prime Minister Narendra Modi affirmed to transform India into a Global Eain auxport Hub as he inaugurated the global textile event, Bharat Tex 2024 at Delhi’s Bharat Mandapam on Monday. The Prime Minister said that the government’s consistent efforts are giving rise to increased foreign investments in India’s textile sector. Bharat Tex 2024, one of the largest-ever global textile events …

Electric Vehicles: Tesla’s India Plans Should Not Push Local Manufacturers into Sulk
1 year, 2 months ago

Electric Vehicles: Tesla’s India Plans Should Not Push Local Manufacturers into Sulk

News 18  

The demand for battery-powered electric vehicles is slowing down in many large-scale markets globally, as consumers weigh whether to switch from petrol/diesel vehicles due to the significant premium EVs command. The condition, though, is that Tesla would eventually begin manufacturing EVs in India, thereby boosting local sourcing of parts and enabling development of a comprehensive supply chain for EVs. Besides, …

At the root of India’s manufacturing challenge
1 year, 7 months ago

At the root of India’s manufacturing challenge

The Hindu  

The issue of manufacturing or services as the desirable path for India’s economy makes the rounds in public fora periodically. In the early part of this century, when India’s software exports were booming, it had been asked why India’s services sector should not leapfrog over manufacturing to propel the economy forward. Unimpressive record After the economic reforms of 1991, the …

Behind the surprising trade surplus in auto components sector
2 years, 4 months ago

Behind the surprising trade surplus in auto components sector

Live Mint  

India’s auto components sector has always imported more than it exported, leading to a trade deficit. The auto ancillaries industry in India mainly supplies to original equipment manufacturers in the automotive industry and their tier-I suppliers in large external markets. “The China +1 policy may not have resulted in an outpour of investments into India, but we have seen benefits …

Goyal Asks Indian Industry To Procure Locally To Fortify Domestic Supply Chains
2 years, 7 months ago

Goyal Asks Indian Industry To Procure Locally To Fortify Domestic Supply Chains

News 18  

Stressing on the Aatmanirbhar Bharat mission, Commerce and Industry Minister Piyush Goyal on Tuesday asked the Indian industry to procure locally wherever there is an opportunity so that domestic supply chains are fortified and become more resilient. “Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today asked Indian industry to procure …

PLI scheme: Auto component companies hope to pare imports
3 years, 3 months ago

PLI scheme: Auto component companies hope to pare imports

Business Standard  

PLI scheme: Auto component companies hope to pare imports It would also reduce imp­orts from countries like China, Taiwan and South Korea and facilitate foreign collaborators to set up manufacturing footprint in India Premium India imported parts worth $13.8 billion in FY21 while it exported $13.3 billion worth of parts in the same year, according to Automotive Component Manufacturers Association. …

Auto sector must change approach: PM
3 years, 4 months ago

Auto sector must change approach: PM

The Hindu  

In a message to the automobile manufacturers, Prime Minister Narendra Modi on Wednesday said the next 25 years are very important for the country and there is a need for government and industry to work together for next-generation infrastructure, world-class manufacturing and new age technology. “There are rapid changes taking place in technology, lifestyle and economy and old approaches and …

India will become hub for automobile manufacturing in next 5 years: Nitin Gadkari
3 years, 4 months ago

India will become hub for automobile manufacturing in next 5 years: Nitin Gadkari

India TV News  

Minister of Road Transport and Highways Nitin Gadkari on Tuesday expressed hope that India will become a hub for automobile manufacturing in the next five years. As we are working on technologies involving ethanol, methanol, bio-diesel, Compressed Natural Gas, Liquefied natural gas, electric and green hydrogen, I believe that India will become a hub for automobile manufacturing in next five …

Tap opportunities in post-COVID world to meet $400 billion export target, says PM to heads of Indian missions abroad
3 years, 5 months ago

Tap opportunities in post-COVID world to meet $400 billion export target, says PM to heads of Indian missions abroad

Firstpost  

Addressing Indian missions and Export Promotion Councils, Modi said that factors, including multifold increase in manufacturing, reduction in logistics cost and international market for domestic goods can help boost the country’s outbound shipments New Delhi: Prime Minister Narendra Modi on Friday called upon the industry and exporters to take advantage of opportunities created in the post-Covid scenario, explore new destinations …

Domestic Auto Industry Must Adopt Make-in-India, Manufacture Components at Reasonable Price: Gadkari
3 years, 9 months ago

Domestic Auto Industry Must Adopt Make-in-India, Manufacture Components at Reasonable Price: Gadkari

News 18  

Union Minister Nitin Gadkari called for the domestic automobile industry to adopt Make in India, asserting that there should be no import of auto components, and all the components should be made in the country at a reasonable price. Speaking at an event, the minister for MSME and Road Transport and Highways said “by accepting new technologies, we are going …

Indian Automakers Fear Container Shortage to Hit Parts Supply, Output in the Coming Months
4 years ago

Indian Automakers Fear Container Shortage to Hit Parts Supply, Output in the Coming Months

News 18  

NEW DELHI: Automakers in India are bracing for a parts shortage and possible production losses over the next three to four months due to a global shortage of available shipping containers, said a trade body in the world's fifth-biggest auto market. Shipping freight rates have surged since July and companies are now finding it "almost impossible to sustain normal trade …

Government Working to Make India an Automobile Manufacturing Hub in the Next 5 Years: Nitin Gadkari
4 years, 1 month ago

Government Working to Make India an Automobile Manufacturing Hub in the Next 5 Years: Nitin Gadkari

News 18  

Road Transport and Highways minister Nitin Gadkari said on Monday that the centre is working to make India an automobile manufacturing hub in the coming 5 years. “Government is also working towards making India a global automobile manufacturing hub in the next five years. This, he felt, is possible as India’s auto industry has made significant strides in terms of …

India Can Become Largest EV Market in World, Reduce Cost to Increase Sales: Nitin Gadkari to OEMs
4 years, 2 months ago

India Can Become Largest EV Market in World, Reduce Cost to Increase Sales: Nitin Gadkari to OEMs

News 18  

Nitin Gadkari, Minister of Road Transport and Highways & MSME, Govt of India, today said that the government is working towards making India a global automobile manufacturing hub in the next five years. Addressing the virtual ‘Electric Mobility Conference 2020’, organized by FICCI Karnataka State Council, Gadkari said, “The future is very bright and India has the potential to become …

Protection from imports time bound, says NITI Aayog Vice-Chairman
4 years, 2 months ago

Protection from imports time bound, says NITI Aayog Vice-Chairman

The Hindu  

Any tariff protection to promote local manufacturing in India will come with an in-built sunset clause, NITI Aayog Vice-Chairman Rajiv Kumar said on Friday, asserting that the country’s self-reliance mission must not be equated to it becoming a ‘protectionist’, closed economy. The government is set to extend the production-linked incentive scheme for manufacturing pharmaceuticals, medical devices and electronics announced under …

Indian Auto Sector Must Leverage Partnerships With Companies Exiting China Due to Geopolitical Risks: SIAM
4 years, 4 months ago

Indian Auto Sector Must Leverage Partnerships With Companies Exiting China Due to Geopolitical Risks: SIAM

News 18  

Many companies in China are relocating or putting plants in other countries to cover geopolitical risks and the auto and components sector must bring those investments or tie up with them to produce in India, newly-elected President of Society of Indian Automobile Manufacturers Kenichi Ayukawa said on Saturday. Speaking at the annual session of the Auto Components Manufacturers Association of …

Automakers, suppliers should join hands to make India manufacturing hub: Experts
4 years, 4 months ago

Automakers, suppliers should join hands to make India manufacturing hub: Experts

Live Mint  

NEW DELHI: India’s automakers and component manufacturers should strive to localise bulk of parts imported from China within the next few years to drive cost competitiveness and boost exports, senior industry executives and government officials said. India in retaliation resorted to increased inspection of consignments from China and levied import restriction on certain components like tyres which has adversely impacted …

Gadkari Urges Industry to Identify Sectors to Boost Exports, Make India 'Self-reliant'
4 years, 5 months ago

Gadkari Urges Industry to Identify Sectors to Boost Exports, Make India 'Self-reliant'

News 18  

To boost 'self-reliant India' endeavour, Union minister Nitin Gadkari on Saturday urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India a super power. Asserting that a case study is in the offing based on three years of imports and exports, Gadkari said China's 70 per …

India to become auto manufacturing hub in next 5 years: Gadkari
4 years, 7 months ago

India to become auto manufacturing hub in next 5 years: Gadkari

India TV News  

Union Transport Minister Nitin Gadkari told India TV, in an exclusive conversation, that India is taking steps in the direction of becoming the hub in auto manufacturing in the next 5 years. Speaking on India TV's #TeamModiOnIndiaTv platform Gadkari said that it will be a part of the 'Atmanirbhar Bharat' and India would cut its dependency on China for products …

Confederation of Indian Industries lauds defence initiatives
4 years, 7 months ago

Confederation of Indian Industries lauds defence initiatives

The Hindu  

The Union government’s decision to notify list of weapons and platforms which shall not be allowed to be imported and enhance the Foreign Direct Investment limit in defence manufacturing under automatic route from 49% to 74% to boost indigenous defence production has been welcomed by the Confederation of Indian Industries. Mega disinvestment and opening sectors to PPP investments will not …

Auto sector to gain from tax cut, says ICRA
5 years, 3 months ago

Auto sector to gain from tax cut, says ICRA

Live Mint  

Automakers and parts suppliers will benefit from the government’s step to cut corporate tax rates, rating firm ICRA Ltd said on Monday. Pavethra Ponniah, vice-president and sector head, ICRA, said the ongoing weak demand conditions may prompt original equipment manufacturers to pass on some benefits of tax revision to the end consumer with lower product prices. In a bid to …

Auto component makers seek uniform 18% GST
5 years, 4 months ago

Auto component makers seek uniform 18% GST

Live Mint  

Auto components industry on Friday sought uniform 18 % GST in order to help companies with their working capital borrowings which could be used to invest in long-term assets. "While the captains of our domestic original equipment manufacturers are ably representing the interventions that would be required to stimulate demand, we in the component sector seek assistance by way of …

Maruti Suzuki asks auto component industry to produce electronics, key parts in India to cut imports
5 years, 4 months ago

Maruti Suzuki asks auto component industry to produce electronics, key parts in India to cut imports

Firstpost  

New Delhi: The country’s largest carmaker Maruti Suzuki India on Friday asked the components makers to start manufacturing vehicle electronics and certain key parts in India in order to cut imports of such articles. The local manufacturing of such parts would not only help Maruti Suzuki India, but also support the government’s Make in India initiative, MSI MD and CEO …

Maruti asks auto component industry to produce electronics, key parts in India to cut imports
5 years, 4 months ago

Maruti asks auto component industry to produce electronics, key parts in India to cut imports

India TV News  

The country's largest carmaker Maruti Suzuki India on Friday asked the components makers to start manufacturing vehicle electronics and certain key parts in India in order to cut imports of such articles. The local manufacturing of such parts would not only help Maruti Suzuki India but also support the government's Make in India initiative, MSI MD and CEO Kenichi Ayukawa …

The auto sector’s revival holds the key to India’s $5 trillion economy
5 years, 5 months ago

The auto sector’s revival holds the key to India’s $5 trillion economy

Deccan Chronicle  

This financial year saw the Government of India set an ambitious target to make India a $5 trillion economy within five years. The Indian automobile industry is contributing 7.1 per cent to GDP right now and around 3.7 crore people are employed directly and indirectly by this sector. The auto components industry accounts for 2.3 per cent of India’s GDP, …

Govt looks at integrated cargo transport mode to reduce cost
6 years ago

Govt looks at integrated cargo transport mode to reduce cost

Hindustan Times  

The government is working towards bringing in an integrated mode of cargo transport to reduce logistics cost, Union minister of road transport, highways and shipping Nitin Gadkari said Thursday. File photo of a gantry cranes loads a shipping container onto a truck from a ship docked at the Jawaharlal Nehru Port, operated by Jawaharlal Nehru Port Trust, in Navi Mumbai, …

India may restrict non-essential imports to check rupee fall
6 years, 3 months ago

India may restrict non-essential imports to check rupee fall

Live Mint  

New Delhi: After Friday’s measures to increase capital inflows to check a falling rupee and curb the rising current account deficit, the next in line could be trade-related measures to curb non-essential imports and boost exports. On Friday, finance minister Arun Jaitley said a broad policy decision has been made to take necessary steps to cut non-essential imports and increase …

India becoming a country of importers'
6 years, 5 months ago

India becoming a country of importers'

Deccan Chronicle  

New Delhi: In an alarming report on impact of Chinese imports, the Standing Committee on Commerce on Thursday warned that India is threatened to become a country of importers and traders with domestic factories either cutting down their production or shutting down completely. It has asked the government to proactively take trade defence measures on import of Chinese goods which …

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