Budget should incentivise local sourcing of steel from auto industry

The Indian automotive industry and the government have put together the Automotive Mission Plan 2016-26 (AMP 2026) on a vision for the vehicles, auto components and tractor industries and where they should reach over the next ten years in line with India’s economic development. The AMP addresses the ecosystem required for the sector’s development in a sustainable way and be competitive in the global stage. It also seeks to define the path until 2026 keeping different stakeholders in mind. 

With the government’s supportive policies (100 percent FDI in the automotive sector) both national and international automotive manufacturers are expanding their footprint