New Delhi, September 5
Union Minister Nitin Gadkari on Saturday requested Indian vehicle and elements trade to not depend upon imports and develop native substitutes for merchandise purchased from abroad, saying the nation’s auto sector has the potential to be the highest world manufacturing hub.
“The government has also taken several steps to encourage Indian companies to export more and the components sector has an opportunity to take advantage of measures such as changing the definition of the MSMEs,” the Road Transport and Highways Minister mentioned addressing the annual session of Auto Components Manufacturers Association of India (ACMA).
“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,” he mentioned.
He additional said that whereas making these merchandise in India: “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 per cent confidence in you.”
Gadkari, who additionally holds the MSME portfolio, exhorted the elements sector to enhance manufacturing, know-how and high quality and reap the benefits of India’s cost-competitive labour to be a power within the world area and contribute much more to the nation’s GDP.
Exuding confidence concerning the sector, he mentioned: “We can make the Indian automobile industry as the number one automobile manufacturing hub in the world within five years.”
Stating that the car sector was one of many essential sectors within the nation, he mentioned one of the important contributions of the trade was in employment era other than its contribution to the nation’s GDP.
He additionally expressed hope that the auto trade might play a lead function within the authorities’s imaginative and prescient of self-reliant India.
“I feel that the government will be supportive of increasing production, increasing exports and increasing more value addition in the country,” he added. PTI