Thursday, Oct 21 2021 | Time 06:57 Hrs(IST)
Business Economy

"Govt rolls out schemes for industry, not for particular player" : Arun Goel on Ford's exit decision

Chennai, Sep 20 (UNI) ''The government rolls out schemes for the industry
and not for a particular player'', Mr Arun Goel, Secretary, Union Ministry of
Heavy Industries, said on Monday on US auto major Ford's decision to shut
down its Indian operations next year.
When asked whether the government would urge Ford to reconsider its decision
in the wake of roll out of the Production Linked Incentive (PLI) scheme by the
Centre for the auto industry, he said the government rolls out schemes for the
industry and not a particular player.
“We are offering a level playing and attractive field when compared to anywhere
in the World. Our role is that of a facilitator and we want to attract investments
through the PLI scheme", he said.
"It’s up to each company to decide how they fit in based on their corporate strategy,”
Mr Goel said, when asked whether Ford's decision to cease Indian operations, including
its Chennai facility during the second quarter of next fiscal, was a set back to India.
Observing that the Indian automobile industry has attracted huge investments, he said
it has got USD 34.5 billion investment in the five years preceding the COVID. If the
Indian auto ecosystem was not attractive, why would that investment have come in?”
he quipped, while talking to reporters, after an inter-active session with the industry
players here.
He also pointed out that excluding the pandemic period, Indian auto industry domestic
sales and exports have grown at a compounded annual growth rate of 8-10 per cent in
the last five years and jobs have been created.
UNI GV 1643
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