General Motors to source 95 percent of components locallyAugust 30th, 2011 - 6:49 pm ICT by IANS
Faridabad, Aug 30 (IANS) General Motors said Tuesday it plans to source about 95 percent of its components from local manufacturers for its newer models.
“The percentage of locally sourced parts and components in new vehicles can be as high as 95 percent,” Ashwani Muppasani, vice president, global purchasing and supply chain, General Motors India said at a Federation of Indian Micro and Small and Medium Enterprises (FISME) event here.
According to Muppasani, the company expects the small and medium enterprises (SMEs) suppliers to adhere to the strict global quality and be certified for technical specification (TS certified) which is meant for engineering industries.
The company plans to double its current production capacity from 150,000 units to 300,000 units by 2014 and envisages a big role for small and medium enterprises.
Meanwhile, the SMEs industry raised concerns on the rising number of auto component imports.
“While there is a positive medium-to-long term outlook for demand in the Indian auto sector, there are concerns about rising imports of auto parts and components,” a FISME research brief said.
Data furnished by the Automotive Component Manufacturers Association of India (ACMA) showed that auto component imports grew by 8.5 percent at $30.2 billion in 2010-11.
FISME secretary general Anil Bhardwaj said that the impact of the India-ASEAN free trade agreement also needs to be monitored.
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