India Looking to Regulate Its Auto Industry

Vilasro Deshmukh, the Union Minister for the Heavy Industries and Public Enterprises in India and come forward to point out to the government and the Indian public that the nations’s auto industry is the 2nd largest of its kind in the world today. This was followed by word that a regulatory body specializing in auto industry concerns will be set up to monitor the nation’s industry in order to encourage growth in the sector that can be easily sustained. According to the Union Minister, the group will act as a catalyst to encourage growth in the industry. Deshmukh relayed this message while speaking before the Automotive Component Manufacturers Association of India during a golden jubilee celebration for the organization which reflected back on the past half a century of its service to India. He went on to tell media present at the event that the new body would come into being in the next few months, being quoted as not ready to reveal the exact timing of the group’s formation, but he did provide the name of the group: the National Automotive Authority. He said that the Government would now need to step in to help guide the Indian auto industry to growth in the future which would benefit the nation as a whole.

APJ Abdul Kalam, a former president of India, also attended the event and spoke to congratulate his nation’s automotive industry on its ability to remain stable and growing during tough times for the entire world. He said that it was a key factor in India’s overall economic growth.

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