Goyal urges auto component makers to cut imports, target $100 bn exports

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Goyal urges auto component makers to cut imports, target $100 bn exports - Business Standard

Quick Summary:

Commerce and Industry Minister Piyush Goyal on Monday asked Indian auto component makers to explore ways to cut reliance on imports and boost local manufacturing to make the country a net exporter of these products.

Addressing the auto component industry here, he expressed his concern over the continued reliance on foreign suppliers and encouraged domestic manufacturers to enhance local production capabilities.

"Many of our component manufacturers still import, I do not know whether (due to) any compulsion or voluntarily, their needs of inputs from Korea, Japan, Taiwan and one of the neighbours.