Piyush Goyal urges auto makers to increase localisation
Union Minister Piyush Goyal urged auto makers to revamp their indigenisation efforts, criticising companies lagging in local sourcing.
Commerce and Industry Minister Piyush Goyal urged automobile manufacturers to increase localisation in India. He criticized some firms for not making enough efforts to localise their operations. Goyal claimed to be monitoring the level of localisation, using data analysis with the help of artificial intelligence. He suggested that firms failing to localise adequately should focus on expanding their exports.
Maruti Suzuki India was cited as a leading exporter of passenger vehicles, exporting half of the million units last year. The minister called for seizing opportunities from India's trade partnerships, expanding localisation, investing in technology and innovation, and preparing to serve global markets. Goyal emphasized that India should not limit itself to serving the domestic market and urged companies to think globally.
The Indian automotive industry was seen as one of the most important drivers of India's growth story in the future.
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