Indian automobile industry is encouraging; attracted huge investments: Arun Goel
The Hindu
To a question on whether government would ask Ford to reconsider its decision of shutting, Mr. Goel said the government rolls out schemes for the industry and not a particular player.
Arun Goel, Secretary, Union Ministry of Heavy Industries on Monday said the Indian automobile industry is encouraging and a success story and has attracted huge investments, while replying to a question on the U.S. auto major Ford’s decision to shut shop in the country and whether it is a setback to India.
“The Indian auto industry has got $34.5 billion investment in the five years preceding the COVID. If the Indian auto ecosystem was not attractive, why would that investment have come in?” he quipped at a press conference in Chennai.
Mr. Goel also pointed out excluding the pandemic period, Indian auto industry domestic sales and exports have grown at a compounded annual growth rate of 8-10% in the last five years and jobs have been created.
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