Union Minister Nitin Gadkari (File photo)
NEW DELHI: Minister of the Union Nitin gadkari on saturday he asked Indian car and component industry not relying on imports and developing local substitutes for products bought abroad, saying that the country’s auto sector has the potential to be the leading global manufacturing center.
The government has also taken various measures to encourage Indian companies to export more, and the components sector has the opportunity to take advantage of measures such as changing the definition of MSMESsaid the Minister of Road Transport and Highways when addressing the annual session of the Association of Automotive Component Manufacturers of India (ACMA).
“I ask you not to encourage imports. Try to take the initiative to find the alternative, or how we can make substitutes for imports in India,” he said.
He further said, while making those products in India, “Initially, the profit margin may be lower, but when you get the volume, you may be the most important company for exports. I have 100 percent confidence in you.”
Gadkari, who also has the MSMEs portfolio, called on the components sector to improve production, technology and quality and take advantage of India’s competitive workforce to be a force on the global stage and further contribute to the country’s GDP. .
Exuding confidence in the sector, he said: “We can turn the Indian auto industry, in five years, into a number one car manufacturing center in the world.”
When specifying that the automotive sector is one of the important sectors of the country, he said that one of the most significant contributions of the industry is in the generation of employment in addition to its contribution to the country’s GDP.
He also expressed hope that the auto industry can play a leading role in the government’s vision of a self-sufficient India.
“I feel that the government will support increased production, increased exports and increased value added in the country,” he added.
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