The government will come out with the guidelines for National Research Foundation where ₹1 lakh crore has been allocated for supporting public-private-academia partnerships on R&D, Piyush Goyal
Promoters whose companies service both ICE and electric segments see a jump in fortunes.
Exports of auto components grew 2.7% to $10.4 billion (₹85,870 crore) in H1 FY24 from $10.1 billion (₹79,033 crore) in H1 FY23.
North America accounts for 32% of the domestic auto components exports.
Goyal's statement comes amidst Tesla's plan to enter the highly competitive domestic automobile industry.
The automotive component industry grew by 34.8% in the first half of this fiscal, after it recorded its highest-ever turnover last fiscal.
Auto ancillaries have started witnessing a healthy ramp-up in revenues with a steadily rising share of EVs, where content per vehicle is expected to rise considerably.
The automotive ecosystem got a rude awakening when the rug of the import-laden supply chain was pulled from under its feet — first during the lockdown, and then due to rising geopolitical escalations.
