EQUIPMENT

THERE IS A STRONG POTENTIAL FOR AUTOMOBILE MANUFACTURER COMPANIES IN JAMSHEDPUR

By TNI Network
Date: Apr 15 , 2017

JAMSHEDPUR: The apex body, representing the interest of the auto component producing enterprises in India The Automotive Components Manufacturing Association (ACMA), has said the present state government is pursuing its development agenda at pace but it requires a follow-up mechanism that works on a sustained manner to resolve petty-to-large issues of the automobile industry to transform the proposals into actual investment.  He added we Jharkahnd  has a very strong potential to be apex destination of Automobile Manufacturing hub. "If there's one thing that requires to be done to attract investment in automobile sector then it is aggressiveness," ACMA present Rattan Kapur told media persons on Friday. He said states like Gujarat, Andhra Pradesh, Maharashtra and Karnataka are pursuing investment proposals in automobile industry with rapid approach whereas the eastern states are yet to pick up the required speed. "Jharkhand along with Odisha have the potential to become next destination with regard to fresh round of investments that automobile sector is apparent to make in the next one decade. However, this state need to push up investment ideas with renewed vigour," Kapur said on the side-lines of his interaction with the MSME representatives at a city hotel. Kapur iterated that by 2026, two-wheeler manufacturing companies shall produce 55 million vehicles while four-wheeler is expected to produce 13 million vehicles. "The existing plants of the several companies in the both categories will attain its full capacity in few years from now and these companies will look for new places for setting up Greenfield plant to meet the 2026 target and in this context Jharkhand is a good destination for the keen investors," Kapur said. Presently, four-wheeler companies are producing 3.6 million vehicles and two-wheeler manufactures are producing 18 million vehicles, he said. Hailing the administrative quality of the chief minister Raghubar Das the ACMA representative said there's been a tremendous development in the state in last two and half years.

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