Will encourage automakers to buy spare parts within state: TN

Stating that Tamil Nadu has emerged as a preferred destination for the automotive sector, the state government today said it will encourage automakers to buy spare parts and components in the state itself.
"Chennai has become home for seven auto majors with an installed capacity of 13.80 lakh units of passenger vehicles and 3.61 lakh commercial vehicles. The state has been a favoured investment destination for manufacturing and more particularly in automotive sector," state Industries Minister P Thangamani said at a conference organised by the CII.
"We encourage vehicle manufacturers to purchase auto parts within the state itself," he said, at the sixth edition of three day conference "Autoserve 2014" on the theme "Reinventing aftermarket services through innovation".

While stressing on the need for consumer safety and service quality, Industries Department, Principal Secretary, C V Sankar said there has to be emphasis on innovation to improve profitability as there has been an increase in use of electronics in the automobiles.
Observing that the after-market industry employed large section of people, T V Sundaram Iyengar and Sons Ltd Joint Managing Director, and Conference Chairman, R Dinesh said, the thriving of automakers depend on the health of after market.
"Technology upgradation of the after-market trade suffers due to funding problem. The thrust should be given to the after market sector, in view of the job creation potential", he said.

Later, a three-day exhibition, in which 80 companies are taking part, was inaugurated by P Thangamani.