The Indian government is prioritizing the growth of the automobile industry. This focus aims to create more employment opportunities. It also seeks to expand the market size and reach significantly. Union Minister Piyush Goyal emphasized these points recently.
He highlighted the critical role of the automobile retail sector. This sector acts as the interface between consumers and the industry. It is responsible for ethical marketing and quality service. Fair financing and smooth registration processes are also key.
The minister spoke at the inauguration of FADA’s 7th Auto Retail Conclave. He also attended the 4th Finance and Insurance Summit. His address underscored the sector’s importance as a bridge. This bridge connects customers with automobile companies effectively.
Company credibility heavily depends on dealer operations. How dealers serve consumers directly impacts trust. Goyal stressed this relationship during his speech. It is fundamental to the industry’s success.
Automobiles are becoming more affordable for consumers. The benefits of GST reductions will be passed on soon. This change is set to take effect from September 22. It promises greater accessibility for buyers.
After-sales service is critically important. Availability of spare parts is equally essential. Continued customer support must be maintained consistently. This is true even if models are discontinued.
Some companies exit the Indian market entirely. This action creates challenges for existing customers. Those who purchased products are left vulnerable. Their concerns must be addressed properly.
Responsibility often falls on dealers in such cases. They must step up to address consumer issues. Goyal suggested creating a protective framework. This would prevent disruption and protect buyers effectively.
A charter would require companies to commit locally. They must maintain a presence for a defined period. After-sales support would be mandatory before closure. This ensures customers are not stranded helplessly.
Such measures maintain sector credibility. Trustworthiness is paramount for growth. India is negotiating Free Trade Agreements with developed countries. This attracts significant global investment.
The size of the Indian market is a major draw. Domestic industry and manufacturers receive strong support. Fair competition is also encouraged actively. Competition improves efficiency and product quality.
Consumer choice benefits greatly from healthy competition. Growth in manufacturing will follow naturally. Global companies testing products here leads to larger investments. This strengthens the entire ecosystem.
The aim is to expand markets robustly. Supply chains must be strengthened considerably. Building resilience is a key objective. Domestic manufacturing remains strongly supported throughout.
Goyal urged promoting swadeshi products actively. Made-in-India items should be encouraged passionately. Consumers ought to prefer them whenever possible. This boosts national economic interests.