Tata Hitachi expresses concerns over Chinese imports, seeks govt support

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Tata Hitachi Managing Director Sandeep Singh stated that the market share of Chinese excavators in India has surged to 20-22 per cent, a concerning trend given the country's focus on self-reliance and domestic manufacturing.

Construction equipment major Tata Hitachi on Wednesday expressed concerns over the growing penetration of Chinese imports in the Indian market, capping the growth trajectory of domestic companies despite healthy market conditions.

The company urged the government to take measures to encourage companies that have invested heavily in 'Atmanirbhar Bharat' and 'Make in India' initiatives, by countering "unfair" competition from Chinese imports.

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Article Details

Category: BusinessFinance

Markets: IndiaChina

Topics: Chinese imports Trade deficit India China trade Tata Hitachi

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 22:26:07 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 535 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23216773

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