Piyush Goel asks OEMs to report deals that jeopardise localisation

Goel urged the auto component makers to promote localisation and promote quality as that is the only thing which can help move India to a path of growth.

By Shahkar Abidi calendar 14 Sep 2022 Views icon3126 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Piyush Goel, Union Minister for Commerce & Industry, has asked automotive component suppliers to report cases of any Indian or global OEM forcing them to import from a certain set of suppliers. Also, he added that component companies in joint ventures with foreign partners should not succumb to any unfavourable terms of operations. 

"The government will be taking serious note of that," said Goel, assuring that such cases will be taken at appropriate fora through diplomatic and other channels.

He was speaking at the 62nd annual session of Automotive Component Manufacturers Association (ACMA) which was held in the national capital on Wednesday.

"We have allowed foreign companies with a large India market and it is only fair that our companies also get fair deals to grow and expand their businesses," he continued

Goel urged the auto component makers to promote localisation and promote quality as that is the only thing which can help move India to a path of growth. Value addition, right pricing and scaling are the other key suggestions he made during his speech. 

 

Tags: ACMA
RELATED ARTICLES
Battery Smart to expand to 25 cities across India by end-FY2023

auther Autocar Pro News Desk calendar03 Dec 2022

Gurugam-based battery swapping start-up Battery Smart is leveraging existing infrastructure by virtue of its lean, partn...

Amara Raja to invest Rs 9,500 crore in lithium-ion battery gigafactory in Telangana

auther Autocar Pro News Desk calendar02 Dec 2022

Lithium-cell gigafactory with capacity up to 16 GWh and battery pack assembly unit up to 5 GWh to come up in the Mahbubn...

Mahindra & Mahindra sells 229,516 SUVs in April-November, drives past FY2022 total

auther Autocar Pro News Desk calendar01 Dec 2022

Surging demand for its SUVs, five of which are in India’s Top 15 list, sees M&M drive firmly towards a record fiscal eve...