New Delhi, Sept. 11 -- India's automotive industry will seek to halve the massive '1 trillion worth of components it currently imports annually over the next 4-5 years, a senior industry official said on Friday, 4 September, in a move aimed at reinforcing the government's goal to achieve self-reliance.
"To cut down imports at that scale, we need to eliminate gaps in competitiveness, costs, quality, technology and capability," Pawan Goenka, managing director, Mahindra and Mahindra Ltd (M&M), said at the annual conference of the Society of Indian Automobile Manufacturers (Siam).
He cited automotive electronics and autograde steel as two key areas of focus for reducing imports.
"We import about $2.5 billion worth of electronics and steel ea...