| Wednesday, January 31, 2007 |
| India's Automotive Mission Plan (AMP) 2006-2016 unveiled |
India's 10-year Automotive Mission Plan (AMP) 2006-2016 is out. Envisaging auto sector investments of $40 billion, the plan aims at enabling the country as a global automobile player in the next decade.
Accordingly, it would chart out a road map for the government and auto industry to achieve a turnover for the sector to increase to $145 billion by 2016, up from the current $35 billion, accounting for 10 per cent of GDP, said reports.
With India's auto sector exports seeking a raise of at least $35 billion if the nation is to be a substantial player in the global market, the auto sector needs around $40 billion investment. This would ensure employment to about 25 million people by 2016, it has been forecast.
The 25-point plan AMP aims at making India a global manufacturing and export hub for small cars, multi-utility vehicles, two and three-wheelers, tractors and components. Now with the plan being unveiled, the Indian automobile industry too has welcomed the status of a "mission" being accorded to the industry. However, the players have also pointed out the need for consistency in framing policies as the industry required time to follow any changes in norms.
Small car makers like Hyundai Motor have been seeking clarity over the definition of small car, which according to the auto mission plan policy is 3,800 mm in length. It may be recalled that the finance minister had accorded excise reductions to 'small cars' with a length 4,000 mm in his budget last year.
The plan has proposed the creation of a monitoring committee under the chairmanship of the secretary, ministry of heavy industries and public enterprises with representatives from representatives from various ministries, including finance, road transport, environment, commerce, shipping, railways, petroleum and natural gas and human resource development.Labels: Auto Industry |
| posted by a correspondent @ 10:21 AM |
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