Indian auto industry to grow more than 3.5 times by 2026
By Aamir H Kaki The Heavy Industries Secretary Girish Shankar on Thursday said that the Indian auto industry will grow by 3.5 times, from the output of around Rs.464,000 crores in 2015 to above Rs.16-19 lakh crore by 2026. “We have finalised the next Automotive Vision Plan 2016-2026, as has been the case with the previous one, combined efforts of the government of India and the industry, we chart a growth path that we jointly seek to achieve,” Shankar said, while speaking at the 2nd ASSOCHAM Auto Forum & Awards 2017 in New Delhi. “This Vision Plan also seeks to define the trajectory of the evolution of the automotive eco system in India including deadline of specific regulations and policies that govern a ...
Indias auto exports decline over 11% in July
The Dollar Business Bureau India’s overall automobile exports have declined 11.53% at 3.05 lakh units in July 2016 when compared to 3.44 lakh units in the same month last year, as per the data released by Society of Indian Automobile Manufacturers (SIAM) on Wednesday. During the month, the exports of Passenger Vehicles (PVs) and Commercial Vehicles (CVs) have registered a growth of 3.23% and 13.21% respectively. But, the exports of three-wheelers and two-wheelers have witnessed a dip by 21.86% and 14.61% respectively in July 2016 over the same month previous year. According to SIAM data, total automobile exports decreased by 10.2% at 11.34 lakh units in April-July 2016 against 12.63 lakh units in the corresponding period last year. While exports ...
DHI hopeful of AMP, National Capital Goods Policy
National Capital Goods Policy, to be launched soon, aims toincrease production of capital goods by 3 times over the next decade- fromRs.2,30,000 crore to Rs.7,50,000 crore The Dollar Business Bureau Automobile Mission Plan (AMP) 2016-26, which has been finalised and to be launched shortly, aims to place Indian automotive industry in the world top three position in engineering and auto component segment Department of Heavy Industry (DHI) is taking various steps in making India a manufacturing hub as well as to implement the Make in India campaign, said the Union Minister of Heavy Industries & Public Enterpriseson Tuesday, as he informed the media about key budgetary provisions made to his Ministry in the Budget 2016-17. DHI is taking steps for the improvement ...
Manufacturing boost: Govt brings draft of national capital goods policy
The Dollar Business Bureau The government has come up with the draft of a national capital goods policy which seeks to double domestic production and raise exports to at least 40% of the total production, thus increasing India’s share in global exports of capital goods to about 2.5% by 2025. “This is the most critical sector for achieving the vision of ‘Make in India’ as the sector has multiplier effect on other sectors of economy. This national policy on capital goods is envisaged to unlock the potential for this promising sector and establish India as a global manufacturing powerhouse,” Ministry of Heavy Industries said in a statement on Friday. In the past few years, India’s capital goods industry has struggled to achieve ...
New scheme to focus on ecosystem of electric and hybrid vehicles
The Dollar Business Bureau To address the challenges faced by the eco-friendly transport system, the government has decided to promote the usage of electric and hybrid vehicles in the country. The government has come up with a scheme— FAME-India (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India—to encourage people to use eco-friendly mode of transport. The FAME-India scheme aims at streamlining the entire ecosystem of electric and hybrid vehicles and is expected to increase the sale of such vehicles in the market. This was stated by the Minister of State in the Ministry of Heavy Industries and Public Enterprises G M Siddeshwara on Tuesday. For the implementation of the scheme notified in March this year, the government has allotted ...
