Automakers, suppliers should come together to make India a manufacturing hub, according to experts
India is fighting very hard to bring back the economy on track amid coronavirus cases. Also, government initiatives like ‘Make in India’ and ‘Self-Reliant India’ is gaining momentum owing to India-China tension. In the wake of recent developments, Automakers and component manufacturers in India should strive to localise bulk of parts imported from China in the next few years to drive cost competitiveness and boost exports, according to industry experts.
According to news reports, at the 60th annual convention of Automotive Component Manufacturers Association of India (Acma), industry leaders suggested that automakers should also reach out to the global companies that are planning to move out of China and convince them to shift to India instead of other countries.
The aftermath of escalating India-China tension has resulted in the move to reduce dependence on imports especially from China. In a retaliating move, India further resorted to increased inspection of consignments from China and levied import restriction on products like tyres which has adversely impacted production of automakers.