Auto components India - - EDITORIAL -

Ma­jor reg­u­la­tory in­ter­ven­tions, such as the ac­cel­er­ated tran­si­tion from BS IV to BS VI, adop­tion of elec­tric ve­hi­cles, safety rules and strin­gent emis­sion stan­dards are lead­ing to a ma­jor shift in ve­hi­cle tech­nolo­gies. Th­ese tech­nolo­gies are ad­vanc­ing rapidly by mak­ing the ve­hi­cles safer, lighter, and more fuel ef­fi­cient. New and di­verse ve­hi­cle types are emerg­ing in the mar­ket that meet the needs of spe­cific types of trav­els, such as longdis­tance com­mut­ing with many pas­sen­gers or very com­pact al­ter­na­tives for solo driv­ers trav­el­ling short dis­tances.

In my re­cent visit to Ger­many to at­tend the ZF’s Tech­nol­ogy Day, I re­alised how com­pa­nies are work­ing to­wards the fu­ture. Tech­nolo­gies on shared mo­bil­ity and au­tonomous ve­hi­cles, which will change the per­cep­tion of mo­bil­ity, fas­ci­nated me. In­dia is also emerg­ing as a pri­or­ity mar­ket for global au­to­mo­tive com­pa­nies. In fact, ZF is work­ing on bring­ing ad­vanced sys­tems to the In­dian mar­ket, which will trans­form the au­to­mo­tive in­dus­try once the BS VI emis­sion norms are in place. The In­dian com­pa­nies are also glob­al­is­ing. Suc­cess in such en­vi­ron­ment calls for a clear strat­egy and the abil­ity to man­age risks and build or­gan­i­sa­tional ca­pa­bil­ity.

On the man­u­fac­tur­ing front, the in­dus­try is in the midst of what is termed as the Fourth In­dus­trial Rev­o­lu­tion (In­dus­try 4.0) – a dig­i­tal com­ing-of-age for an in­dus­try with heavy roots in a low-tech era. The re­cent adop­tion of mo­bil­ity strate­gies into core busi­ness op­er­a­tions is help­ing man­u­fac­tur­ers sup­port un­prece­dented busi­ness de­mands due to evolv­ing cus­tomer ex­pec­ta­tions from to­day’s dig­i­tal world, the ex­plo­sion in e-com­merce and ad­vance­ments in IoT that are driv­ing crit­i­cal ef­fi­cien­cies and cost sav­ings.

With the in­creas­ing ca­pac­ity to spend, high lev­els of prod­uct aware­ness, rapidly evolv­ing ex­pec­ta­tions and de­mand for per­son­alised prod­ucts and ser­vices, cus­tomers are tak­ing the cen­ter stage of the en­tire au­to­mo­tive ecosys­tem. Un­der­stand­ing the chang­ing cus­tomer needs and hav­ing the abil­ity to serve them dif­fer­ently will be a key com­pet­i­tive ad­van­tage.

In­dia is set to be­come the third largest auto com­po­nent in­dus­try by 2025, ac­cord­ing to a re­port by the Con­fed­er­a­tion of In­dian In­dus­try. In­dia’s au­to­mo­tive com­po­nent in­dus­try pro­vides an out­let for global man­u­fac­tur­ers to en­gage one of the fastest grow­ing mar­kets in the world. To make all th­ese things hap­pen, a col­lab­o­ra­tive ap­proach is in­dis­pens­able which will cre­ate a win-win sit­u­a­tion.

Bhar­gav TS Ex­ec­u­tive Edi­tor s.bhar­gav@nextgen­pub­lish­

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.