Larsen & Toubro on Tuesday said it is committed to achieving self-reliance and the government's 'Make in India' manufacturing campaign, reacting as public opinion turns against Chinese products.
"With an unfortunate incident involving our brave soldiers at our border, sentiments are running high in the country. As a company involved in nation-building for more than eight decades, we firmly stand with the policy of manufacturing best-in-class products locally through 'Make in India',” said SN Subrahmanyan, managing director and chief executive officer (CEO) for L&T.
The L&T chief added, “We can drastically reduce our dependency on imported products including those from China by putting processes and systems in place to develop a large scale, efficient and cost-effective domestic industrial ecosystem over a medium to long term.” The top executive noted the atmosphere is right for this and "we should accelerate this."
L&T said it has been involved in developing a strong supply chain of local vendor partners in its businesses. The company cited over 80 per cent localization achieved in its K-9 Vajra-T guns, supplied to the Indian army as an example. “It (L&T) is also nurturing the local manufacturing and construction ecosystem involved in producing efficient and cost-effective substitutes for the global markets,” the company added.