Union Transport Minister Nitin Gadkari has asked Indian auto and auto components industry to not depend on imports and develop local substitutes.
The sector has potential to make India a global manufacturing hub, he said.
"I request you, don't encourage imports. Try to take the initiative to find out the alternative, or how can we make import substitutes in India," Gadkari said at the annual session of Auto Components Manufacturers Association of India on Saturday. “Initially, the profit margin may be less, but when you get the volume, you can be the most important company for exports. I have 100% confidence in you.”
The government has taken several steps—including changing the definition of micro, small and medium enterprises—to encourage exports, Gadkari, who also holds the MSME portfolio, said at the ACMA event. He encouraged the auto components sector to improve production, technology and quality and take advantage of the labour force.
"We can make the Indian automobile industry, within five years, the number one auto manufacturing hub in the world,” he said. "I feel the government will be supportive of increasing production, increasing exports and increasing more value addition in the country.”
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