Auto industry has taken a giant leap: Kamal Nath

Pune, July 21 (UNI) Automobile industry has taken a giant leap, said Union Minister for Commerce and Industry Kamal Nath here today.

Speaking at the inauguration of the new building of Auto-Cluster Development and Research Institute at Chinchwad here today, the Minister said the Auto sector's progress and development has come mainly through foreign investment. The minister lauded the progress made by the Automobile industries in the country and said the progress was parallel to the advancement made by American and Japanese motor industries. After being impressed by the all round development made by the IT industries so also the motor and other industries in and around Pune, Kamalnath today announced that international Automobile exhibition will be held in Pune and city deserve the credit of having made such a progress and development.

Regarding the Auto cluster,the Minister pointed out that the total project cost was at Rs 127 crore with the Union Government contribution of 75 percent while the Maharashtra has aided the project to the tune of 25 percent.

Speaking at length Kamalnath skirted around the world scenario projected that leading players of the world has been eyeing at India to exploit the lucreative market it offers for the motor industries.

The Government extended the funding to any project but team responsible for the Auto cluster project deserved special mention for making it worth while which will certainly go a long way in near furure for the further development of Automobile industry, Minister said.

Union Agriculture Minister Sharad Pawar has contributed imemsely for the establishment of the premier Project was present on the occasion. He said this project will provide various technology-related services for automobile sector and small scale industries.

Managing Director, Auto Cluster Development and Research Institute Ltd, V M Rao said that the project established under the Industrial Infrastructure Upgradation Schemes (IIUS) of the department of Industrial Policy and Promotion of the Union Commerce and Industry Ministry. The project also provide the engineering support and service for automobiles and ancillary industries, he said.

The Pimpri Chinchwad Municipal Corporation has provided 40 acres of land for the project that has been supported jointly by Maharashtra Chamber of Commerce, Industries and Agriculture (MCCIA) and the PCMC. The auto related industries will get aid to upgrade the quality of the its products to international standards.

UNI