
Held under the theme ‘Future of Mobility - Transforming to be Ahead of the Opportunity’, the 62nd Automotive Component Manufacturers Association (ACMA) saw a large crowd gather. Over 2000 delegates from OEMs, government and components manufacturers made it to the event. Held in a post Covid environment and after a hiatus of two years, the event saw people from different walks of the auto industry converge.
The large hall at Taj Palace hotel in Delhi falling short of space during a good part of the event, the annual convention saw an interesting inaugural session with Sunjay Kapur, President, ACMA, delivering a fine speech on the lines of how new opportunities could be harnessed in the future of mobility. Stating that this event was happening against the backdrop of the highest growth in (India’s) economy, he expressed that it is a testimony to the right policy intervention by the government in one of the most trying times. “Today we are the world’s fifth largest economy and we (the components industry) are grateful for the guidance and support of our customers (automotive OEMs) especially through the hardest times of the pandemic,” he added.
Lauding CII (Confederation of Indian Industries) for partnering with ACMA, Kapur said, “Such arrangements have helped the auto components industry to travel on the path of green and sustainable future. Thanking Amitabh Kant, Hon’ble Sherpa G-20, for being a catalyst of a paradigm shift in mobility and Dr Pawan K. Goenka, Chairman, SCALE committee and Chairman INSPACE, Department of Space, Government of India, for being a wonderful mentor, Kapur mentioned, “The auto components industry has shown remarkable resilience and is hoping that the demand for two-wheelers will bounce back with the start of the festive season.”
Drawing attention to increased value addition, regulatory compliances, fast recovery in external markets and traction in domestic markets has contributed to the remarkable growth of the industry in FY2021-22, Kapur said that significant growth was witnessed across all sectors including supply to OEMs, exports and aftermarket. “The auto components industry witnessed a sale of USD 56.5 billion, marking a 23 percent growth and outpacing its highest ever turnover in FY2018-19,” he added. Kapur. With him on the Dias were Vinnie Mehta, Director General, ACMA; Kenichi Ayukawa, President, SIAM, and Executive Vice Chairman, Maruti Suzuki; R Dinesh, President – Designate, CII and Executive Vice Chairman, TVS Supply Chain Solutions; Dr Pawan Goenka; Amitabh Kant, and Shraddha Suri Marwah, Vice President, ACMA and Chairperson and MD, Subros.
Describing the automotive components industry as a key driver of India’s growth story, Kant in his address mentioned that the emergence of green mobility solution will provide lot more opportunity for the industry to collaborate, to innovate and grow. “I believe India’s electrification transformation will be led by 2W & 3W and the industry needs to focus on 100% electrification for these categories of vehicles. The automotive industry needs to take a lead amidst the disruption happening globally in the green mobility space,” he said.
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