Localisation of imported cars to benefit CCM

More emphasis on localisation of imported cars may benefit local Car component maker (CCM) in the country. The foreign who are planning to have their new platforms in India includes BMW, Skoda, Volkswagen and Toyota. These car companies is set to launch small cars in the domestic car market first and then export them from here. The car companies can keep the prices competitive by using local components. Vishnu Mathur, president of the Auto Component Manufacturers Association said that the move will not only get them more work, but will also allow them to participate in a high level of value creation. Industry experts claimed that the new move would not only bring down the overall cost of the vehicle but also help keep the running cost modest.