By IANS,
Chennai : The Tamil Nadu government is formulating a policy for auto components and facilitating the setting up of a National Automotive Testing and Research and Development Infrastructure Project (NATRIP) to make the state one of the top automotive manufacturing hubs.
“The state will soon come out with an exclusive policy for automotive and auto component sectors,” Deputy Chief Minister M.K. Stalin said here Wednesday.
He said India will be in the top five by 2020 in rolling out cars and commercial vehicles.
“The state government aims to attract more investments from the global automotive players,” Chief Minister M. Karunanidhi said after inaugurating the Rs.2,300 crore car plant of Renault Nissan Automotive India.
“The state government has allotted land for setting up of a world-class automotive testing centre at Oragadam to ensure seamless integration of our auto industry with that of the global industry,” he said.
Renault-Nissan alliance committed to invest Rs.4,500 crore in Chennai two years back. Twenty months later, the car plant with a capacity to make 400,000 units is ready, Renault Nissan CEO Carlos Ghosn said.
He said the small car Micra to be rolled out of the plant will be exported from here.
The Indian car market is expected to grow to six million units in next 10 years from the current two million units per year, he added.
Renault-Nissan’s car plant sources components from 96 vendors in India and the localisation level is more than 80 percent.