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Home arrow Automotive arrow Innovative fuels and environmental engineering need greater attention
Innovative fuels and environmental engineering need greater attention Print E-mail
Written by Anand   
Tuesday, 15 January 2008
India’s own people’s car unveiled

New Delhi: Shri Kamal Nath, Union Minister of Commerce and Industry, has stressed that innovative fuels, environmental engineering, and greater fuel efficiency are some of the issues that would need greater attention from auto companies. Speaking at the inaugural session of the Auto Expo 2008, here today, the Minister said that India is fortunate to have a high engineering skill level, and it must become a leader in innovation for environmental protection within the tenets of development.

Shri Sontsh Mohan Dev, Minister of Heavy Industry & public Enterprises; Mr. Sunil Bharti Mittal, President, Confederation of Indian Industry (CII); Mr. Sanjay Labroo, President, Automotive component Manufacturers Association (ACMA); Mr. Ravi Kant, President, Society of Indian Automobile Manufacturers (SIAM); Mr. Carlo Sinceri, President, International Organisation of Motor Vehicle Manufacturers; and Mr. Rajive Kaul, Chairman, CII Apex Council for Trade Affairs, were spoke on the occasion.

Earlier, India’s Own People’s Car by Tatas was unveiled in the presence of Shri Kamal Nath.

Shri Kamal Nath has informed the participants that in consultation with the industry associations and experts, Government has already developed the blueprint for the industry through Automotive Mission Plan, which lays down some of the policies that need to be strategised and put into play for promotion of the industry.

The Minister further said: “Increasing integration of the global economy will offer greater opportunities for India in coming years. Already, India’s overseas engagement as represented by the export and import of goods and services has crossed the level of half of GDP, reaching an aggregate of $450 billion. In the last four years, the growth of merchandise exports has been over 20%, while services exports have been expanding even faster”.

In 2006-07, India crossed the milestone of 10 million vehicles sold. Passenger cars alone vaulted over the one million mark, and commercial vehicles sales grew by over 33%. Exports are also going up by rates of about 20%. “I believe that auto component exports themselves are slated to double from close to $3 billion this year to $6 billion within the coming financial year. Deriving from sophisticated engineering skills, formidable cost advantage and end-to-end production capabilities, India is becoming a destination of choice for sourcing of auto parts”, Shri Kamal Nath said.

India’s auto industry has been rapidly attaining a name for itself as a global player. The auto component industry has similarly exhibited tremendous innovation and competitiveness and is able to match global standards of production. The scale of the industry is expected to expand exponentially as more and more auto majors from other countries enter the market.

 

 
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