New Delhi, Feb 27: Minister for Heavy Industries and Public Enterprises Anant Gangaram Geete on
Tuesday said it is the Government’s endeavor to make the New Auto Policy
industry-friendly.
“We are trying to make a foolproof policy, to ensure the
success of Make in India,” he added.
The Minister was speaking at the 2nd India-Korea Business Summit 2018 organised by the Confederation of Indian Industry (CII) and Chosun Ilbo in cooperation with the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry.
The Minister stated that it would be his Ministry’s endeavor to continuously adapt and modify the policy so as to keep up with the changing times. Inviting Korean companies to invest in India, the Minister stated that Korean companies could consider developing technology in India.
Dr. Asha Ram Sihag, Secretary, Department of Heavy Industry, stated that his Department is in the process of finalising the National Automotive Policy which would help create a more enabling environment for the sector. It provides the policy stability that overseas investors seek.
Mr Vishvajit Sahay, Joint Secretary, Department of Heavy Industry, stated that the automotive industry contributes 7.1% of GDP & 49% of Manufacturing GDP. It also accounts for 8% of India's exports & 7-8% of employment.
Automotive Component Manufacturers Association (ACMA) President Nirmal Minda stated that auto components sector is the flagship manufacturing sector in India accounting for 49% of the overall manufacturing output in the country. It is the largest employment creator and exports 25% of its output. UNI
The Minister was speaking at the 2nd India-Korea Business Summit 2018 organised by the Confederation of Indian Industry (CII) and Chosun Ilbo in cooperation with the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry.
The Minister stated that it would be his Ministry’s endeavor to continuously adapt and modify the policy so as to keep up with the changing times. Inviting Korean companies to invest in India, the Minister stated that Korean companies could consider developing technology in India.
Dr. Asha Ram Sihag, Secretary, Department of Heavy Industry, stated that his Department is in the process of finalising the National Automotive Policy which would help create a more enabling environment for the sector. It provides the policy stability that overseas investors seek.
Mr Vishvajit Sahay, Joint Secretary, Department of Heavy Industry, stated that the automotive industry contributes 7.1% of GDP & 49% of Manufacturing GDP. It also accounts for 8% of India's exports & 7-8% of employment.
Automotive Component Manufacturers Association (ACMA) President Nirmal Minda stated that auto components sector is the flagship manufacturing sector in India accounting for 49% of the overall manufacturing output in the country. It is the largest employment creator and exports 25% of its output. UNI
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