Commerce and Industry Minister Piyush Goyal on Thursday held a meeting with various industry associations to discuss ways to reduce imports in the automobile industry and increase localisation of auto components. The ministry is working to push local manufacturing in several other sectors, including furniture and ACs, and reduce imports from countries like China.
Held meetings with representatives from various industry associations and chambers of commerce along with government officials. Discussed ways to reduce imports in the automobile industry and increase localisation of auto components to promote Make in India," Goyal said in a tweet. In 2018-19 India imported auto components worth USD 17.6 billion, of which 27 per cent (USD 4.75 billion) were from China.
The major component imports from China include drive transmission and steering parts, electronic and electrical items, cooling systems, suspension and braking parts.
A recent paper by Research and Information System for Developing Countries (RIS), a policy think tank, 327 products ranging from mobile phones and telecom equipment to cameras, solar panels, air-conditioners and penicillin — accounting for nearly three-fourths of the imports from China — can be alternatively sourced or manufactured in India.
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In terms of the number of goods imported from across the border, the share of the 327 sensitive products was less than 10 per cent of the 4,000-odd items that were imported from China.
But there are also products where China is the sole exporter. The product base ranges from everyday-use items such as earphones and headphones to microwave ovens and certain types of washing machines. The list also has several types of machinery, some auto components, escalator components, certain acids and chemicals and fertilisers like diammonium phosphate, where China is the sole supplier.
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