Auto industry to invest USD 7 bn in 5 years to deepen parts localisation – ET Auto
Baua Electric
FEBRUARY 29, 2024
Projects are underway to reduce imports of airbags to 20% by 2028 from 26% in 2023 and 100% in 2012, those of electronic stability control units to 47% by 2025 from 63% in 2023 and 100% in 2015, and imports of ventilator fan systems to 10% by 2026 from 85% in 2024 and 100% in 2021. To be sure, China dominates auto parts supplies to India.
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