Toyota motor chief: Indian auto industry can survive global competition

As India increasingly opens up to global competition by signing up Free Trade Agreement (FTA), Toyota Motor Corporation Chairman Takeshi Uchiyamada said the country's auto industry can "survive the challenge" with government support while creating a global market for Indian products.

India is taking forward its FTA negotiations with the EU and ASEAN and "these mega FTAs will make the market open to fierce competition globally", he said while speaking at the SIAM (Society of Indian Automobile Manufacturers) annual convention here.

"If the Indian government provides some support for these challenges, we can survive the competition and create a global market for Indian products."

Referring to the steps taken by the Modi government, including Make in India, he said: "If a product made in India can meet global standards, we can export our products globally. We can also export components..."

Acknowledging the efforts made by the government, he said investment by Japanese companies has been on the upswing.

He is hopeful that initiatives like Skill India and Digital India can help make India a global hub for technology.

As India prepares for stricter emission and safety norms, Uchiyamada said adoption of global standards in auto industry must be done in harmonisation with local conditions.