Make in India’s success biggest in Auto sector : Minister

Speed Post News Network

New Delhi : Union Minister for  Heavy Industries & Public Enterprises Anant Geete while addressing a presser on June 12, 2018, on the completion of 4 years of the Government, said the biggest success of Make in India programme is in the auto sector.

The automobile sector of India is one of the largest in the world and accounts for over 7.1 % of India’s GDP and contributes nearly 22 % of India’s manufacturing GDP. The minister added that the sector has become a manufacturing base for global car makers.

Geete also spoke about the Faster Adoption Manufacturing of Hybrid and Electric Vehicles in India (FAME), which was launched in 2015, and is proposed to be implemented over a period of 6 years till 2020. Under FAME India scheme, 22 Original Equipment Manufacturers with 80 models are registered for availing demand incentive.  Till March 31,2018, the Government has given financial support (demand incentive) to about 1,86,431 electric/hybrid vehicles amounting to Rs 256.93 crore.

The Minister informed that the Department has sanctioned nearly 500 electric buses across nine major cities with an expected cash outgo of approx. Rs 280 crore. This will be a game changer in the public transport sector, according to a PIB release.

The Minister also spoke about the capital goods policy launched in 2016 with the vision to increase the share of capital goods contribution from present 12 % to 20 % of total manufacturing activity by the year 2025. The policy aims to increase the production of capital goods from Rs 2,30,000 crore in 2014-15 to Rs 7,50,000 crore in 2025 and raising direct and indirect employment from the current 8.4 million to 30 million.

The Minister also spoke about the setting up of Centres of Excellence by the Department of Heavy Industries to make the Indian Capital Goods Sector globally competitive by addressing the issues of technological depth besides creating common industrial facility centres.