French automobile manufacturer Renault Group on Thursday announced that it has approached the National Company Law Tribunal (NCLT) to seek approval for restructuring its India operations. 

The proposed restructuring is aligned with Renault’s long-term strategy for India. The company aims to strengthen India’s role as a manufacturing and export hub, targeting exports of up to €2 billion annually by 2030. 

The company said, “Renault Group India has approached the National Company Law Tribunal (NCLT) for approval of a proposed structural realignment of its India operations. The proposed realignment is aimed at creating clearer and more focused operating structures. It envisages the powertrain manufacturing activity being organised as a dedicated powertrain entity within Renault Group India, while vehicle manufacturing and sales operations are brought together under an integrated operating structure.” 

Renault said the proposed changes will not impact stakeholders or day-to-day operations. 

“The proposed changes do not involve any disruption to business operations. There is no impact on employees, customers, dealers, suppliers, or partners. Employment terms, service continuity, and existing relationships remain unchanged, and business continues as usual. All existing manufacturing, supply, and service commitments, including commitments to partners, continue unchanged. Renault Group India remains fully committed to India as a key market and manufacturing hub and will continue to engage transparently with stakeholders as the process progresses,” the company said. 

It added that employment terms, ongoing services, and existing partnerships will continue without change, while all manufacturing, supply, and service commitments will remain in place. 

Renault Group India reiterated its commitment to India as a key market and production base and said it will continue engaging with stakeholders as the restructuring process progresses. 

Renault Group India, a wholly-owned subsidiary of Renault Group, claims to employ around 15,000 people. The company caters to both domestic and international markets and operates a sales and service network of over 600 touchpoints across India.