Auto industry bodies recommend incentivising enhanced domestic value-addition, localisation
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Last Updated: Mar 05, 2021, 02:38 PM IST
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In their presentation, Ayukawa, who is also the MD & CEO of Maruti Suzuki India Ltd and Kalyani, the Chairman & MD - Bharat Forge Ltd, said the aspiration of the sector is to achieve two-fold growth in exports by 2025-26 with automobile manufacturers achieving exports of USD 19 billion and auto component makers touching USD 30 billion.
Agencies
Automobile and auto components industry bodies SIAM and ACMA on Friday recommended incentivising enhanced domestic value-addition and localisation to leverage on the USD 25 billion import substitution opportunity but said the production linked incentive (PLI) scheme should not cannibalise existing exporters by incentivising new players. In a presentation at the PLI event organised by Department for Promotion of Industry and Internal Trade (DPIIT) and Niti Aayog, Society of Indian Au
Incentivise localisation, enhanced domestic value-addition: Auto sector
March 05, 2021
There is a need to develop industrial infrastructure and ensure availability of skilled resources, say industry bodies - The Hindu
There is a need to develop industrial infrastructure and ensure availability of skilled resources, say industry bodies - The Hindu×
‘Need to boost competitiveness, attract investments’
The auto industry on Friday said the production-linked incentive (PLI) scheme is required for both component as well as auto industries, as they are not sufficiently competitive globally.
Industry bodies Society of Indian Automobile Manufacturers (SIAM) and Automotive Components Manufacturers Association of India (ACMA) have recommended incentivising enhanced domestic value-addition and localisation to leverage on the $25- billion import substitution opportunity.
Updated Mar 05, 2021 | 19:07 IST
SIAM and ACMA recommended incentivising enhanced domestic value-addition and localisation to leverage on the USD 25 billion import substitution opportunity. SIAM and ACMA suggest incentivising enhanced automobile localisation | Photo Credit: Representative Image
Automobile and auto components industry bodies SIAM and ACMA on Friday recommended incentivising enhanced domestic value-addition and localisation to leverage on the USD 25 billion import substitution opportunity but said the production linked incentive (PLI) scheme should not cannibalise existing exporters by incentivising new players. In a presentation at the PLI event organised by Department for Promotion of Industry and Internal Trade (DPIIT) and Niti Aayog, Society of Indian Automobile Manufacturers (SIAM) President Kenichi Ayukawa and CII Manufacturing Council Chairperson Baba Kalyani stressed that PLI scheme is required for Indian auto component a
The government needs to look at incentivising enhanced domestic value-addition to leverage the large imports substitution ($25 billion) opportunity that exists in the sector, said Baba Kalyani, who is also the chairman at Bharat Forge, whose businesses include automobile components.