In an effort to boost local investment the government has asked auto firms to reduce royalty payments to foreign parent companies for the use of technology or brand names. Commerce Minister, Piyush Goyal, in a meeting last week asked officials from groups representing carmakers and auto parts manufacturers to review such payments to reduce them, said the sources. While India does not restrict the amount that can be paid as royalty, any payment by a locally listed company exceeding 5% of revenues needs shareholder approval. Auto car companies pay billions of rupees to foreign parent companies as royalties.