The Minister announced that the recent GST reductions will make automobiles more affordable, and these benefits will be passed on to consumers starting 22 September. He also stressed the importance of ensuring continued support for customers, particularly when companies discontinue models or exit the Indian market.
Shri Goyal proposed creating a regulatory framework or charter mandating companies to maintain a local presence and offer after-sales services for a defined period before closing operations, ensuring buyers are not left stranded.
Encouraging Investment and Fair Competition
Highlighting India’s negotiations on Free Trade Agreements with multiple developed nations, Shri Goyal noted that these efforts are attracting global investments. While supporting domestic manufacturing, he stressed that fair competition enhances efficiency, product quality, and consumer choice.
“Global companies testing products in India will drive growth, expand markets, and strengthen supply chains while supporting domestic manufacturers,” he said. The government’s aim is to balance foreign investment with domestic industry resilience.
Ease of Doing Business and Industry Support
Shri Goyal pointed out that the government is simplifying procedures, reducing compliance burdens, and minimizing bureaucratic hurdles for the sector. He invited stakeholders to submit suggestions on streamlining laws, including the Motor Vehicles Act, or decriminalizing minor offences, promising that all recommendations will be considered to improve the business environment.
Promoting Made-in-India and Swadeshi Products
The Minister encouraged dealers and manufacturers to prioritize swadeshi products and strengthen local suppliers of auto components. “Reducing dependence on imports will build resilient supply chains and enhance India’s self-sufficiency,” he said.
Automobile Sector at an Inflection Point
Shri Goyal concluded by noting that India’s automobile industry is poised for rapid growth, driven by aspirational consumers and expanding global investments. He reaffirmed that the Ministry of Heavy Industries and the Department for Promotion of Industry and Internal Trade (DPIIT) are committed to supporting the sector, ensuring customer satisfaction, and helping the industry achieve its full potential.
With ongoing Free Trade Agreements and investment inflows, the Minister stressed that consumers will enjoy more choices, and the sector will become increasingly competitive and resilient.