Auto Component Industry Poised For Exciting Growth Phase

Srinjoy Bal
15 Sep 2023
01:48 PM
1 Min Read

The ‘Mobility 360O – Sustainability for Competitiveness’ session at ACMA had speakers dwelling upon the challenges and opportunities ahead.


The auto component industry is playing a pivotal role in propelling India's growth while seizing emerging global opportunities with its distinctive edge in competitiveness and innovation, said Nitin Gadkari, Minister for Road Transport & Highways.

He told the gathering at the recently held ACMA annual conference that component makers had done remarkable work in embracing electrification, technology, digitisation etc and crafting a powerful engine to redefine the mobility space in the country.

The conference, ‘Mobility 360O – Sustainability for Competitiveness’, had representatives from the government and industry including Pawan Goenka, Chairman SCALE Committee and Chairman, INSPACE, Dept. of Space, Vinod Aggarwal, President, SIAM and MD and CEO, Volvo Eicher Commercial Vehicles, Hisashi Takeuchi, MD and CEO, Maruti Suzuki India, and Hemant Sikka, President, Farm Equipment Sector, Mahindra and Mahindra.

Piyush Goyal, Minister for Textiles, Commerce & Industry and Consumer Affairs, Food & Public Distribution, said that it was reassuring to see the efforts of ACMA in fostering a robust automotive supply chain, advocating policies, promoting localisation, and enhancing competitiveness.

The Indian automotive ecosystem had the potential to define the sector at a global scale and become more sustainable. Industry players are making huge strides in their quest for global prominence by driving tech-led innovation supported by a favourable business environment, he added.

Mahendra Nath Pandey, Union Minister for Heavy Industries, said favourable policies are unleashing India's potential to revolutionise the global mobility landscape. He added that with the close collaboration between the Centre and industry, India was writing a new chapter in global excellence and competitiveness.

Amitabh Kant, Sherpa G-20, said as the industry shifted gears towards cleaner and more efficient technologies, the country was assured of a sustainable and prosperous future. “The journey of the auto industry is not just about innovation and competitiveness but also about redefining the mobility space, one that is digital and sustainable,” he elaborated.

Sunjay Kapur, President ACMA, and Chairman, Sona Comstar, said the components industry was at an inflection point where the road to global success would be defined by innovation, sustainability, skill development, investment, and R&D capabilities.

Vinnie Mehta, Director General of ACMA, added that the industry was set for robust growth in the coming years. Component makers, OEMs and the Centre were collaborating to ensure sustainability. ACMA, in its turn, was committed to facilitating a seamless transition to sustainability and a circular automotive ecosystem, he said.

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