Auto sector specifies 28 parts for import cut
ECONOMY & POLICY

Auto sector specifies 28 parts for import cut

Rajesh Menon, the director-general of the Society of Indian Automobile Manufacturers (SIAM), mentioned that India?s automobile sector had recognized 28 crucial components for indigenisation as part of the ?localisation roadmap? aimed at expediting the ?Make in India? initiative. He emphasised that these components were vital for sustaining the growth momentum. He further stated that the ongoing efforts in localization had already resulted in substantial forex savings of over Rs 70 billion.

Menon conveyed that in response, original equipment manufacturers (OEMs) had urged their component suppliers to explore methods for local manufacturing of these components, including high-end electrical and electronic parts. He highlighted that the availability of locally sourced components would diminish the reliance of OEMs on imports, aligning with the auto industry?s dedication to ?Atma Nirbharta? (self-reliance), while simultaneously boosting the export potential of the component industry.

Moreover, Menon noted that the Production Linked Incentive (PLI) schemes for the automotive sector were acting as a catalyst for the localisation of advanced auto components. He indicated that these schemes had already begun fostering the requisite ecosystem for companies to invest in and produce in India.

Rajesh Menon, the director-general of the Society of Indian Automobile Manufacturers (SIAM), mentioned that India?s automobile sector had recognized 28 crucial components for indigenisation as part of the ?localisation roadmap? aimed at expediting the ?Make in India? initiative. He emphasised that these components were vital for sustaining the growth momentum. He further stated that the ongoing efforts in localization had already resulted in substantial forex savings of over Rs 70 billion. Menon conveyed that in response, original equipment manufacturers (OEMs) had urged their component suppliers to explore methods for local manufacturing of these components, including high-end electrical and electronic parts. He highlighted that the availability of locally sourced components would diminish the reliance of OEMs on imports, aligning with the auto industry?s dedication to ?Atma Nirbharta? (self-reliance), while simultaneously boosting the export potential of the component industry. Moreover, Menon noted that the Production Linked Incentive (PLI) schemes for the automotive sector were acting as a catalyst for the localisation of advanced auto components. He indicated that these schemes had already begun fostering the requisite ecosystem for companies to invest in and produce in India.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement