Piyush Goel asks OEMs to report deals that jeopardise localisation

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.