Synopsis
India s manufacturing is roughly equal to the combined manufacturing of Indonesia, Thailand, Malaysia and Philippines, the principal manufacturing economies in South East Asia, and just over five-fold the combined manufacturing of Bangladesh and Pakistan.
iStock
The onset of COVID-19 pandemic has put the spotlight on workplaces as potential infection hot spots that require substantive change to work together productively in a safe and hygienic manner.
Manufacturing in India particularly in Micro, Small and Medium Enterprises (MSMEs) is often associated with lower productivity, quality, occupational health and safety and environmental performance. The window of opportunity for second best is in constant decline, particularly in current time with uncertain and stagnating markets due to COVID-19 pandemic and the associated economic downturn.
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.
Gadkari urges 100% localisation of auto components; may hike customs duty Updated Feb 26, 2021 | 17:30 IST
Reiterating that the auto sector is a key driver of the Indian economy, the minister said increase in basic customs duty on select auto components will encourage local manufacturing of such items. Gadkari urges 100% localisation of auto components; may hike customs duty
Union Minister Nitin Gadkari on Thursday asked automobile manufacturers to hike localisation of components to 100 per cent or else the government will think of increasing basic customs duty on imported items, but the auto industry wants support for localisation of electronic parts, specially semiconductors.
Nitin Gadkari urges auto component manufacturers to increase localisation to 100%
Updated:
Updated:
February 25, 2021 13:28 IST This is the time for the Indian auto industry to support Make in India and Made in India movement, says Union Minister Nitin Gadkari
Share Article
Union Minister Nitin Gadkari. File
| Photo Credit: V. Ganesan This is the time for the Indian auto industry to support Make in India and Made in India movement, says Union Minister Nitin Gadkari
Union Minister Nitin Gadkari on February 25 asked automobile manufacturers to increase localisation of components to 100% or else the government will consider raising basic customs duty on imports in order to encourage domestic manufacturing of such parts.
Gadkari urges auto component manufacturers to increase localisation to 100 per cent – IBC World News ibcworldnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibcworldnews.com Daily Mail and Mail on Sunday newspapers.