TIL Desk/Business/New Delhi/ Union Minister Nitin Gadkari on Thursday asked automobile manufacturers to increase localisation of components to 100 per cent or else the government will consider raising basic customs duty on imports in order to encourage domestic manufacturing of such parts.
Speaking at an event organised by the Automotive Components Manufacturers Association of India (ACMA), the Minister of Road Transport and Highways said the present levels of localisation of parts in the Indian auto sector is around 70 per cent and “at any cost we need to stop imports of auto components”.
“I urge both vehicle and auto component manufacturers to increase localisation of components to the maximum. Not maximum, my expectation is to make it 100 per cent. We are fully competent in all the things. Even, I am requesting automobile manufacturing companies to take it very seriously otherwise for imports of components we will think in the direction to increase more customs duty on that,” he said.
