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The new rules are expected to come into effect on Feb. 17. The letter and the internal discussions at the steel ministry have not been previously reported. Reuters has reviewed a copy of the letter. Despite the warning from the auto industry, the steel ministry is unlikely to back down, three sources with direct knowledge of the matter told Reuters amazon cufflinks. This week the ministry called the country’s biggest steel producers such as JSW Steel (JSTL.NS) and Tata Steel (TISC.NS), Steel Authority of India Ltd (SAIL.NS) (SAIL) for a meeting with carmakers including Maruti, Hyundai, Honda and Ford..
In the meeting, which was held two days after Geete’s letter to Chaudhury, the officials continued to push carmakers to work with steel companies to manufacture high-grade automotive steel locally and even form joint ventures, if needed, five sources with direct knowledge of the matter told Reuters amazon cufflinks. “We have told the auto companies that we need to step up local manufacturing and they need to sit with the local steel companies here to let them know the specifications because our companies are well-equipped,” a senior government official with direct knowledge of the discussions said..
A spokesman for the ministry said talks were ongoing with foreign companies to make value-added steel in India. The steel ministry’s push is the latest from Modi’s administration which is desperate to check imports and show the success of its manufacturing program, aimed at building a domestic industrial base and boosting jobs and growth. India remained a net importer of steel during April-November after exports dropped over 30 percent amazon cufflinks. The auto industry will, however, face disruption if the import of some of these crucial steel products comes to a standstill, Vinnie Mehta, director general at the Automotive Component Manufacturers Association of India, told Reuters..
The steel ministry has already granted a two-month exemption to carmakers on new quality control rules for imports which were originally due to come into effect on Dec. 18. Auto companies want an extension until the end of 2019. Carmakers continue to rely on imports because they say local steel companies are unable to match the quality, consistency and price, three company sources said amazon cufflinks. An Asian carmaker which failed to source stainless steel exhaust pipes locally has instead decided to import the entire fuel exhaust system, said Sugato Sen, deputy director general at the Society of Indian Automobile Manufacturers, a trade body..
LONDON (Reuters) – Jaguar Land Rover (JLR) will cut 10 percent of its workforce, mostly in its home market, as Britain’s biggest carmaker faces lower Chinese demand and a slump in European diesel sales amazon cufflinks. JLR, based in central England, will cut some 4,500 out of 42,500 jobs, targeting managerial roles rather than production-line workers as it battles to return to profitability. Owned by India’s Tata Motors, JLR also said it will build electric drive units at its Wolverhampton engine plant and create a new battery assembly center in Hams Hall, near Birmingham, as it develops a greener vehicle range..