Sunil Koparkar, Managing Director, IAC India, outlines the company’s strategy to reduce customer concentration, expand exports and leverage group synergies following its integration with the Lumax Group.

As India’s automotive interior market evolves towards premiumisation, localisation and faster product cycles, IAC India, part of the Lumax Group, is repositioning itself beyond a single-customer dependency model – without diluting its core partnerships.

IAC India continues to derive a significant share of its revenue from Mahindra’s passenger vehicle business. While the concentration remains high, Koparkar is clear that diversification will be driven through growth rather than dilution.

“Mahindra will always be our primary customer. We have a very strong strategic partnership. But we are also working on expanding with other OEMs and in the commercial vehicle space. Our goal remains a 20 percent CAGR, whether that growth comes from Mahindra or other customers,” he says.

For FY2025, IAC India USD 140 million in revenue, and is targeting a 20 percent growth in FY2026. The company counts Mahindra as its primary customer with almost 78 percent of its business coming from them, while Maruti Suzuki India (12%), Volvo Eicher Commercial Vehicles (5%), Skoda-Volkswagen (3%) and Stellantis (1%) contribute towards the remaining business.

What’s more, responding to the company’s expansion plans, Koparkar revealed, that IAC Group, in addition to introducing new products, is also in talks with new-age players such as VinFast and JSW Group too for supplying products.

Currently, passenger vehicles account for roughly 90 percent of the business, with commercial vehicles forming the balance. Value-wise, Koparkar expects CV contribution to rise, even if percentage splits remain broadly similar due to the rapid growth of PV volumes.

Responding to a query on the potential growth from the CV segment, Koparkar said, “There is clear potential in CV interiors. As the CV market moves towards more comfortable cabins — with features like airbags, HVAC and infotainment — the opportunity for interior suppliers increases. Through Volvo Eicher, we have already helped drive that trend in India.”

When asked about the company’s expansion plans, Koparkar also stated that IAC Group is open to expanding to new regions as it aims to operate closer to its customers. One of the potential new projects for the company could very well be Chennai, as the company is in early talks with a new CV customer as well as VinFast.

Engineering as a Standalone Growth Lever

A key pillar of IAC India’s strategy is its expanding engineering capability. The company has been scaling up its R&D and product development team and increasingly positioning engineering services as a distinct revenue stream.

The company at present, employs over 300 engineers in India, which it aims to scale it upto 400-plus by next year and 500-plus in the coming few years.

Historically, the Indian Engineering Centre supported the global IAC Group. “We were primarily the IAC Group engineering development centre. We will continue to provide those services. But now, besides global support, we are also offering engineering services to local OEMs,” Koparkar explains.

These services span studio collaboration, basic product design, CAE analysis and prototype development. In some cases, this can potentially evolve into full-scale supply programmes.

Importantly, innovation is now being formalised locally. “This year alone, we are in the process of filing about 30 patents,” he says. Earlier, intellectual property was subsumed under the global entity; now, filings are being initiated in India.

R&D investment remains aligned with group benchmarks at around 1.5–2 percent of revenue.

Exports: Measured Ambition

In terms of exports potential, it currently contribute less than 5 percent towards the revenue, primarily through smaller kinematic parts. Direct exposure to the US market is negligible.

“Trump-related uncertainty does not affect us because we do not export to the US,” Koparkar says. “Logistically, it does not make sense to ship our large interior parts there.”

Europe remains the primary export target. “The opportunity lies in leveraging our design capabilities and local development strengths. If logistics can be managed efficiently, there is room to grow.”

He also sees the Lumax Group’s aftermarket division as a future vehicle for export expansion.

Localisation and Supply Chain Resilience

On the localisation front, IAC India has made significant progress. “Last year was the first time we were able to localise over 99 percent of our tooling and development in India,” Koparkar states. Machinery on shop floors is largely localised, with only certain raw materials still imported.

The semiconductor crisis, he adds, had minimal direct impact. “We do not source electronics for our products — that is handled by the customer. However, from a development perspective, we are evaluating secondary substitutes for imported components, so we are prepared in case of disruptions.”

Premiumisation, Sustainability and AI

Premiumisation is currently the dominant interior trend. “Customers are moving away from basic plastics to more premium-feel interiors. Electronification is a big driver,” Koparkar says.

Sustainability, however, remains nascent in India. “There is no specific push for sustainable materials yet. What OEMs are looking for is lightweighting to meet upcoming CAFE norms. If a sustainable material delivers significant weight reduction, then it becomes serious.”

He points to jute, coir and bamboo fibres as potential alternatives but stresses that ecosystem-level collaboration is essential. “Unless a circular economy develops around us, sustainable materials will struggle to scale.”

On automation, operations across IAC’s six plants are roughly a 50:50 mix of automated and manual processes, depending on volume justification. Cobots and semi-automation are used where full automation does not offer viable returns.

AI, meanwhile, is expected to influence design more than manufacturing. “We see AI helping us accumulate design learnings and reduce design cycle times. Its impact will be more visible in engineering services than on the shop floor.”

Faster Development Cycles

Product life cycles are shrinking rapidly. “It used to take five years to develop a car,” Koparkar reflects. “With the XUV700, we worked with the customer to shrink that to 42 months. EVs are being developed even faster.”

As development timelines compress and interiors become more technology-intensive, IAC India is betting on engineering depth, localisation strength and group synergies to sustain its 20 percent growth ambition – while steadily broadening its customer and geographic footprint

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Rosmerta Technologies has launched a comic book titled ‘The Curious Bunch’ at the 3rd Edition of the CII National Conclave on Road Safety. The publication is designed to introduce road safety awareness to children.

The initiative aligns with the Government of India’s ‘4E’ strategy for road safety, which focuses on Engineering, Education, Enforcement and Emergency Care. The comic book aims to address the 168,000 road fatalities reported in India in 2022 by fostering safe habits at a school level.

The comic book uses illustrations to present road scenarios, including pedestrian conduct, school bus safety, traffic signals & the use of helmets, seatbelts and child restraint systems. By educating children, the company intends to influence the behaviour of parents and the wider community.

Rosmerta, a provider of mobility solutions, currently operates technology systems for automated driving tests and AI-based monitoring. The launch of ‘The Curious Bunch’ marks an expansion of its activities into the education pillar of the national safety framework.

Dr Rajesh Mohan, DCP, Gurugram Traffic, said, “When we educate children and instil strong moral and ethical values, the impact travels far beyond the classroom. Children naturally share what they learn. They question, they explain, and they influence conversations at home. In many ways, they become powerful advocates, encouraging their parents to be more aware, more responsible, and more engaged. Over time, this awareness translates into action, because parents are also drivers, commuters, and decision-makers on the road.”

Ravi Krishnamoorthi, Group President, Rosmerta Technologies, said, “Every road accident statistic hides a parent’s anxiety. In 2022 alone, India reported over 168,000 road accident fatalities, according to government data. Road safety is not merely about compliance; it is about compassion and collective responsibility. When a child understands why a red light matters or why a helmet can save a life, they don’t just learn a rule - they become ambassadors of safety within their families and communities. Through ‘The Curious Bunch’, we aim to nurture this awareness early, because the habits we shape in children today will define the safety culture of our nation tomorrow.”

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Maruti Suzuki India, in partnership with the Transport Department of Tamil Nadu, has announced the commissioning of seven Automated Driving Test Tracks (ADTTs) in the state. The facilities were inaugurated by the Chief Minister of Tamil Nadu, M K Stalin.

The tracks are located at Regional Transport Offices (RTOs) in Coimbatore (Central), Tiruvannamalai, Krishnagiri, Madurai (North), Sivagangai, Dindigul, and Tiruchirappalli (West). These sites form part of a Memorandum of Agreement to automate ten tracks across the state, with the remaining three at Tirunelveli, Tuticorin and Marthandam scheduled for operation shortly.

The ADTTs are designed to evaluate applicants for two-wheeler and Light Motor Vehicle (LMV) licences. The system removes human intervention from the evaluation process to ensure objective testing according to the Central Motor Vehicle Rules (CMVR).

Key technical components include:

• Video Analytics: High-definition cameras to monitor vehicle movement and path adherence.
• Sensors: Radio Frequency Identification (RFID) and Harnessing AutoMobiles for Safety (HAMS) technology.
• Identification: Face-recognition systems to verify candidate identity.
• Results: Integrated IT systems that generate test results automatically based on real-time data.

The carmaker has commissioned 56 ADTTs across eight states, including Uttar Pradesh, Delhi, and Bihar. Following the completion of agreements with Rajasthan and Andhra Pradesh, the company’s footprint is expected to reach 81 tracks nationwide.

Rahul Bharti, Senior Executive Officer, Corporate Affairs, Maruti Suzuki India, said, “As part of Maruti Suzuki’s road safety initiatives implemented across multiple states, we are partnering with the Government of Tamil Nadu to strengthen the driver licensing evaluation process through the deployment of 10 Automated Driving Test Tracks (ADTTs). Equipped with high-definition cameras and advanced analytics, these ADTTs enable a comprehensive, efficient, and transparent assessment process. It eliminates any human bias and ensures that only skilled drivers are awarded a license.”

“According to data shared by the Ministry of Road Transport & Highways, India witnessed 1.77 lakh road accident deaths in 2024. Promoting disciplined driving practices and ensuring rigorous driver evaluation are vital to prevent road accidents and augment road safety across the country,” he said.

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BYD, the world’s leading manufacturer of New Energy Vehicles, will once again serve as the headline sponsor for the British Vehicle Rental and Leasing Association (BVRLA) Annual Dinner in 2026. This marks the third consecutive year the company has supported the prestigious event, which is set to take place on 4 March 2026 at the JW Marriott Grosvenor House Hotel on Park Lane, London. The dinner is widely recognised as the premier gathering for professionals across the rental, fleet management and leasing sectors.

Through its ongoing sponsorship since 2024, BYD reaffirms its commitment to this vital segment of the UK automotive market. The company’s expanding presence was underscored in 2025 by the introduction of several new models, including the SEALION 7, DOLPHIN SURF, SEAL 6 Saloon and Touring and the ATTO 2. These launches contributed to significant sales figures, with 21,824 units delivered to fleet customers and 5,964 to the rental sector. The momentum has continued into 2026 with the debut of the SEALION 5 DM-i, while the ATTO 2 DM-i and ATTO 3 EVO are expected to arrive shortly. Supporting this growth is a dedicated UK fleet team of 11 specialists, offering tailored product and service expertise.

The BVRLA represents around 1,000 member organisations, ranging from SMEs to large public companies, all operating within or alongside the UK’s vehicle rental and leasing industries. By engaging with government and upholding professional standards, the association enables its members to provide safe, sustainable and accessible transport solutions. This year’s Annual Dinner will feature the presentation of the Industry Hero Awards and live entertainment from award-winning comedian Tom Ward, celebrating excellence across the sector.

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The Society of Indian Automobile Manufacturers (SIAM) convened the 7th SIAM CSR Conclave in New Delhi, themed ‘CSR Partnerships – From Shared Vision to Shared Value’. The event brought together industry leaders, CSR practitioners, policymakers, NGOs and development experts to explore collaborative models for driving inclusive growth and national development.

The inaugural session, titled ‘CSR as National Development Catalyst - Building the Nation, Responsibly’, featured key dignitaries who set the tone for discussions on sustainable nation-building. Prashant K Banerjee, Executive Director of SIAM, welcomed attendees and highlighted the automobile industry's extensive national presence, emphasising its responsibility to engage communities sustainably. He linked industry efforts to the Viksit Bharat 2047 vision, noting that businesses must look beyond sectoral growth to include social development across the country. The session included a screening of SIAM CSR initiatives and the release of the SIAM CSR Compendium, showcasing member companies' key projects.

Guest of Honour Dr Bhaskar Chatterjee, IAS (Retd.), Director General & CEO of the Indian Institute of Corporate Affairs, traced CSR's evolution from charity to statutory obligation, calling for CSR 2.0 with fresh thinking, technology adoption like AI for verifiable data, third-party evaluation and professionalisation. He urged the automobile sector to prioritise waste management, process re-engineering and carbon capture, insisting that CSR must move from the backroom to the boardroom with robust governance.

Puneet Anand, Chairman of the SIAM CSR & Community Services Group and Associate Vice President & Vertical Head at Hyundai Motor India Ltd., noted India's pioneering CSR legislation has mobilised nearly INR 2.2 trillion from about 800 organisations. He stressed the need to move beyond the statutory two percent threshold towards measurable outcomes, skill development, community resilience and replicable district-level models through collaboration.

Other contributors to the session included Prabhakant Jain, CSR Head of D S Group; Yashpal Sachar, Vice President (Corporate Affairs) at Ashok Leyland Ltd.; Tarun Agarwal, Sr Vice President & Head-CSR at Maruti Suzuki India Ltd. and Sulekha Kaul, Partner at Vaish & Associates Advocates, who shared insights on impactful CSR models.

Rajeev Taneja, Co-Chair of the SIAM CSR & Community Services Group and Vertical Head – CSR Operation at Honda Motorcycle & Scooter India Ltd., delivered closing remarks, emphasising CSR's centrality to inclusive growth. He called for evolution from compliance to conviction, with intentional, measurable collaboration focused on empathy, dignity and tangible change, supported by transparency and alignment with national priorities.

A thematic session on ‘Educational and Corporate Outreach towards CSR Pillars’ was moderated by Anuj Guglani, Founder & CEO of WAF Group, addressing environmental rejuvenation, road safety, education, health, sanitation and skills development. Session Chairman Rajendra Raut, Co-Chair of the SIAM CSR & Community Services Group and Director (Corporate & Govt. Affairs) at JSW MG Motor India, identified education as the enabling force strengthening all CSR pillars, advocating for partnership and co-creation over donor-recipient approaches. Presentations followed from Sanchita Vaish, Lead Specialist-Global Entity Governance & CSR Lead (India) at Baker Hughes; Praveen Karn, Group Head Sustainability & CSR at Minda Group; Dr Veenu Shankar, Assistant Professor at Delhi Technological University; Anjali Makhija, CEO of S. M. Sehgal Foundation and Dr Chitra, CEO of Indian Head Injury Foundation.

A panel discussion on ‘NGO & Corporate Perspective on Successful Collaboration Models towards CSR Execution’ was moderated by Mugdha Mishra, Editor of Auto Media Strategy at Autocar India. Panellists included Arindam Lahiri, CEO of ASDC; Rahul Bansal, Head of Private & Public Sector Partnerships at UNICEF; Shailendra Singh, Director of Dhartie Warriors Foundation; Pritika Chand, Corporate Head at Jindal Stainless; Prabhu Nagaraj, Head – Corporate Affairs at Honda Motorcycle & Scooter India Pvt. Ltd. and Co-Chairman of the SIAM Skilling Group; Ajay Bhatt, Head-Comm., Ex. Affairs, Sustainability & CSR at Škoda Auto Volkswagen India Pvt. Ltd.; Saurabh Sharma, Head CSR & ESG at Hyundai Motor India Ltd. and Runa Ahlawat, General Manager at JSW MG Motor India. They emphasised collaboration's importance in CSR execution.

The day's highlight was a Fireside Chat on ‘CSR Partnerships – From Shared Vision to Shared Value’, moderated by Mugdha Mishra, where Guest of Honour Dr Bhaskar Chatterjee reiterated the need for sustainability practices like waste management, process re-engineering and carbon capture in the automobile industry.

The conclave concluded with an Award Ceremony recognising outstanding CSR contributions. Puneet Anand delivered opening remarks. SIAM CSR awards were distributed by dignitaries including Dr Bhaskar Chatterjee; Alok Jaitley, President – SAFE & EVP at Maruti Suzuki India Ltd.; Puneet Anand; Rajeev Taneja; Rajendra Raut; Rajesh Menon, Director General of SIAM and Prashant K Banerjee. Awards under Skill Enhancement and Education went to Kedman Skilled India Foundation (Honda) and Centum Foundation (Mahindra & Mahindra). Healthcare & Sanitation awards were presented to Karma Healthcare Trust (Hyundai) and Sparsha Trust (Toyota). Road Safety awards recognised Learning Links Foundation (Ashok Leyland) and The TSL Foundation (Mahindra & Mahindra). Environmental Rejuvenation awards honoured Mahabodhi International Meditation Centre (Škoda Auto Volkswagen) and NAAM Foundation (TATA Motors).

The conclave reaffirmed SIAM's commitment to collaborating with governments, industry leaders and stakeholders to advance sustainable mobility and contribute to India's Sustainable Development Goals by 2030, aligned with its mission of building the nation responsibly.

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