Maruti Suzuki India Chairman RC BhargavaThe auto component industry needs to invest more in research and development, and try to maximise internal resources by cutting down spending on the lifestyles of senior management to become competitive globally, Maruti Suzuki India Chairman RC Bhargava said on Thursday. Speaking at the ACMA annual session, the veteran industry leader noted that much needs to be done in order to further enhance auto component exports, which currently stands as just 1.2 per cent of the total automobile global trade. “Export of components grew and reached USD 15 billion in FY19, a very praiseworthy effort by any account, but it should be noted that the global trade and automobile components are USD 1.3 trillion. And our share of that is barely 1.2 per cent. We are also net importers in the component manufacturing industry,” Bhargava stated at the virtual conference. The auto component industry needs to take advantage of the global market, which is ava...

Bharat Forge This measure is also in line with the Maharashtra government’s 2020 requirements Guidelines issued daily on March 22nd. (Representative photo) NEW DELHI: Auto component makers Minda Industries and Bharat Forge on Monday said they will suspend operations at their manufacturing sites as part of preventing the spread of the deadly coronavirus. Minda Industries said in a regulatory filing, “In view of the comments made about the new coronavirus (COVID-19) we have decided to suspend the growing concern of its spread in some parts of India, the government’s guidelines and the suspension of production announced by some OEMs (original equipment manufacturers ) announced suspensions.” . ” he said. Production in North India, Rajasthan and Maharashtra until further notice. Meanwhile, Bharat Forge in a statement to the BSE “The company has decided to suspend the operations of all its offices and manufacturing sites in India from March 23 to 31, 2020...