Piyush Goyal deliberates on ways to reduce imports in auto sector

Union Railway Minister Piyush Goyal addresses the media on amended Citizenship Act, in Mumbai

Commerce and Industry Minister Piyush Goyal on Thursday held a meeting with various industry associations to discuss ways to reduce imports in the automobile industry and increase localisation of auto components.

The ministry is working to push local manufacturing in several other sectors, including furniture and ACs, and reduce imports from countries like China.

"Held meetings with representatives from various industry associations and chambers of commerce along with government officials. Discussed ways to reduce imports in the automobile industry and increase localisation of auto components to promote Make in India," Goyal said in a tweet.

In 2018-19 India imported auto components worth USD 17.6 billion, of which 27 per cent (USD 4.75 billion) were from China.

The major component imports from China include drive transmission and steering parts, electronic and electrical items, cooling systems, suspension and braking parts.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel