Renault plans to double India parts sourcing, says MD Venkatram Mamillapalle
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Shally Seth MohileMumbai: Renault plans to more than double component sourcing from India to ₹400 million (about ₹4,055 crore) over the next five years, a senior executive said, as the automaker sharpens focus on making the country a key part of its global supply chain . The company currently buys ₹170 million worth of auto parts from India annually.Renault's move to accelerate component sourcing from India tracks the French automaker issuing a profit warning last week amid weaker-than-expected June sales and headwinds in Europe. It also said it would accelerate cost-cutting measures to improve margins in the second half of this calendar year."Our ambition is to make India a strong sourcing hub, not only to meet global requirements but also to drive greater value for our Indian supplier ecosystem," Venkatram Mamillapalle, MD at Renault India , told ET on Wednesday. Scaling of component exports will help strengthen the company's supplier base and improve its global competitiveness, he said.The senior Renault India executive was speaking on the sidelines of the introduction of the new Triber on Wednesday. The updated model is likely to challenge Maruti Suzuki's Ertiga and Toyota 's Rumion in the compact MPV segment besides compact SUVs.The Triber is the first of four new models Renault will be introducing over the next two years as part of its $600 million investment plan for the Indian market. The company, which has been a fringe player in the local market with less than a 1% share, is looking to reboot its Indian operations with the new model launches. Mamillapalle noted that the company is moving towards faster decision-making and tighter integration under a unified leadership structure, following a shift from the earlier multi-entity model involving Renault, Nissan, and the Alliance.Dismissing speculation about potential collaborations with Indian automakers, he said, "There is no reason I need a partner. We have our own design, engineering, manufacturing and network. Somebody else may need my assistance - we don't need anybody's."Bloomberg reported on July 4 that Renault is in early discussions with the JSW Group for a potential joint venture. "We are fully committed to the Indian market, and we believe the next phase of growth will be driven by scale, efficiency, and a sharper product focus," he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
25 minutes ago
- Indian Express
Roshanara Club with revamped sport facilities, wellness and banquet areas, opens its doors after almost 2 years
After being closed for renovation for nearly two years, the century-old Roshanara Club reopened its doors to the residents of the Capital on Sunday. Renovated and restored by the Delhi Development Authority (DDA), the heritage club now boasts of revamped sport facilities as well as modern wellness and banquet areas, among others. The club, spread across 22 acres, was taken over by the DDA for renovation on September 29, 2023. This was after L-G V K Saxena – in his maiden visit to the club on January 12, 2023 – noticed that the 'majestic structure was lying in a dilapidated state with poor maintenance with a crumbling facade', the DDA said in a statement. Saxena, who unveiled the revamped club, said, 'It is a big moment for us, as this heritage club has been restored and relaunched. I congratulate the people of Delhi on this occasion. Delhi is a city of heritage and in the last three years, a number of heritage (sites) have been restored and we are committed towards (restoring) more in the future.' The club was established on August 15, 1922 as an elite recreational and social retreat for the Britishers residing in the area around present-day Delhi University and Civil Lines. It was named after Begum Roshanara, the daughter of Mughal Emperor Shah Jahan, who was buried in the neighbouring Roshanara Bagh. The club is considered the birthplace of the Board of Control for Cricket in India, which was formed in 1928 when Indian cricket administrators gathered at Roshanara Club. 'Particular attention was given to the preservation of the club's architectural legacy. The century-old façade, including the European-style doors and windows, Mangalore-tiled roof, and intricate wooden trusses, have all been carefully restored. Antique chandeliers and original furnishings were refurbished and reupholstered to revive their classic charm,' the DDA said in its statement. It added that indoor facilities at the club now include a main lounge, card and billiards rooms, banquet area, bar and dining hall, library, gym, squash and badminton courts, a swimming pool, and a wellness area with yoga, sauna, and steam rooms. Outdoor amenities include clay, grass, and synthetic tennis courts, cricket grounds, a mini football zone, basketball area, and a jogging track. The DDA said civil works involved anti-termite treatment, waterproofing, marble polishing, wooden flooring repairs, and renovations to sanitary facilities. Important upgrades were made to the squash and badminton courts, swimming pool, and various places in the club house building. While electrical systems were overhauled, AC cooling was enhanced by providing requisite units, ducting and wiring were concealed, and damaged fittings, switches and light fixtures were replaced. Chandni Chowk BJP MP Praveen Khandelwal, Model Town BJP MLA Ashok Goel, DDA Vice Chairman N Saravana Kumar, and senior officials also attended the launch. Devansh Mittal is a trainee correspondent with The Indian Express. He studied political science at Ashoka University. He can be reached at ... Read More
India.com
27 minutes ago
- India.com
Vietnam's VinFast Enters India with First EV Showroom In Gujarat, Plans 35 Outlets By Year-End
New Delhi: Vietnamese electric vehicle maker VinFast on Sunday opened its first showroom in India at Gujarat's Surat as the company looks to tap the growing market for electric cars in the country. The showroom will showcase the company's electric SUV variants VF 6 and VF 7, which will be launched as right-hand drive variants for the first time. "The vehicles will be locally assembled at VinFast's upcoming factory at Thoothukudi in Tamil Nadu, reinforcing the company's long-term commitment to India as a strategic market and future hub for electric vehicle production," a VinFast statement said. VinFast plans to open 35 dealerships across over 27 cities in the country by the year-end. Vehicles will be assembled at its upcoming manufacturing facility in Thoothukudi, Tamil Nadu. Vietnamese EV giant VinFast opens First Indian Showroom in Surat,Gujrat. Aims 35 Showrooms across India By 2025 end. — Indian Infra Report (@Indianinfoguide) July 27, 2025 Located in Surat's Piplod area, the showroom will showcase the brand's upcoming premium electric SUVs – the VF 6 and VF 7 – for which pre-bookings opened on July 15. Customers can reserve their vehicle at showroom their vehicle at showrooms or online through with a fully refundable deposit of Rs 21,000, the statement said. VinFast Asia CEO Pham Sanh Chau said: "The first VinFast Showroom in Surat is a symbol of our deep commitment to India. We are excited to bring the VinFast experience closer to Indian consumers. With this dealership in Gujarat, we aim to offer not just electric vehicles, but a complete ownership journey built on quality trust and service excellence.' The Vietnamese EV maker has formed partnerships with RoadGrid, myTVS, and Global Assure to provide charging and after-sales services across India. The company has also joined hands with BatX Energies to promote battery recycling and establish a circular battery value chain, reinforcing its commitment to sustainable innovation. Earlier this month, the Elon Musk-run Tesla launched its Model Y in India, at prices starting at Rs 59.89 lakh, with its first showroom in Mumbai. Tesla will be importing the Model Y as a completely built unit (CBU) from its manufacturing facility in Shanghai in China.
Indian Express
27 minutes ago
- Indian Express
TCS swings the axe: 12,200 Jobs to be cut in brutal industry shake-up
Tata Consultancy Services (TCS), India's largest IT services firm, is executing the first major layoff in the Indian IT sector, slashing 2 per cent of its global workforce — roughly 12,200 jobs. Framed as a push toward building a 'future-ready generation' through 'skilling and redeployment,' the move is, in effect, a sweeping cost-cutting exercise. The axe will fall hardest on mid- and senior-level employees, signalling a tough new chapter in the industry. TCS' workforce stood at 6,13,069 as on June 30, 2025. TCS said it's on a journey to become a future-ready organisation. 'This includes strategic initiatives on multiple fronts including investing in new-tech areas, entering new markets, deploying AI at scale for our clients and ourselves, deepening our partnerships, creating next-gen infrastructure and realigning our workforce model,' TCS said. 'Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organization whose deployment may not be feasible,' the company said in a statement. 'This will impact about 2% of our global workforce, primarily in the middle and the senior grades, over the course of the year,' TCS said. TCS's decision is expected to create uncertainty in the Indian IT industry, with industry experts anticipating that other major firms may follow suit. The move signals a potential shift in workforce strategies, especially as companies increasingly turn to automation and cost optimisation. As one of the sector's largest employers, TCS's actions could set a precedent, prompting similar measures across the industry and raising concerns among employees about job security and long-term career stability. According to TCS, this transition is being planned with due care to ensure there is no impact on service delivery to our clients. 'We understand that this is a challenging time for our colleagues likely to be affected. We thank them for their service and we will be making all efforts to provide appropriate benefits, outplacement, counselling, and support as they transition to new opportunities,' it said. 'The continued global macro-economic and geo-political uncertainties caused a demand contraction. On the positive side, all the new services grew well. We saw robust deal closures during this quarter,' K Krithivasan, managing director and CEO, said while announcing the results earlier this month. 'We remain closely connected to our customers to help them navigate the challenges impacting their business, through cost optimisation, vendor consolidation and AI-led business transformation,' he said. Aarthi Subramanian, executive director-president and COO, TCS, said, 'Across industries, clients are increasingly shifting their focus from use case-based approach to ROI-led scaling of AI. We are investing across the AI ecosystem including infrastructure, data platform solutions, AI agents and business applications.' Earlier this month, TCS reported a 6 per cent growth in its consolidated net profit at Rs 12,760 crore for the first quarter ended June 2025 as against Rs 12,040 crore in the year-ago period. The company's revenue rose to Rs 63,437 crore, higher by 1.3 per cent as against Rs 62,613 crore in the year-ago period. However, TCS' revenue declined 3.1 per cent year-on-year (YoY) in constant currency. The company's operating margin was at 24.5 per cent, an expansion of 30 bps on a quarter-on-quarter basis. India's corporate sector has been witnessing a host lay-offs, especially in the tech and startup segments in the last two or three years. Byju's laid off approximately 2,500 employees in late 2023, followed by another 500 in April 2024 — primarily from its sales and marketing teams. These cuts came after earlier layoffs in 2022 that affected up to 3,500 staff. Dunzo cut about 30 per cent of its workforce — roughly 300 jobs — in early 2023, adding to previous reductions. Ola Electric laid off more than 500 employees in November 2024 and over 1,000 additional workers in March 2025, targeting roles in procurement, fulfilment, customer service, and infrastructure as part of a broader cost-cutting and profitability strategy.
