Piyush Goyal Urges Auto Industry to Manufacture Machines Domestically
Commerce and Industry Minister Piyush Goyal has called upon India’s auto component industry to commence domestic production of machinery utilized in the sector, aiming to diminish reliance on imports. He emphasized that certain Indian auto manufacturers continue to import components that could be competitively produced within the country, potentially compromising their market position.
Goyal highlighted the significant import of machinery from abroad and encouraged the industry to venture into machine building, questioning the necessity of dependence on foreign sources. He pointed out that India’s free trade agreement with the European Free Trade Association (EFTA), which includes Switzerland—a nation renowned for its machine-making expertise—presents opportunities for collaboration to enhance domestic manufacturing capabilities.
The minister also urged the auto component sector to expand the production of electric vehicle (EV) components, citing substantial opportunities in markets across Africa, Latin America, and the Middle East. He recommended the development of a five-year action plan to transition towards EVs, aligning with global trends and sustainability goals.
Praising the competitiveness of India’s auto component industry, Goyal noted that the sector does not seek protection in free trade agreements when provided with equal market access. He asserted that companies not utilizing Indian-made components risk losing their competitive advantage in the domestic market, underscoring the importance of self-reliance and innovation in maintaining industry leadership.
