The way forward for the auto industry
At its 58th Annual Convention, SIAM highlights the need for a long term roadmap for the auto sector, as it heads towards global transition to EVs and future mobility, Pratik Rakshit reports
The Society of Indian Automobile Manufacturers (SIAM), the body representing India’s automobile sector, held its 58th Annual Convention titled “Building the Nation, Responsibly”. The speakers present at the convention consisted of Anant Geete, minister of heavy industries, Nitin Gadkari, minister of road transport, highways, Dr. Rajiv Kumar, vice chairman, NITI Aayog among others. This year, the focus was on the need for a long term policy for electric vehicles and future mobility. The speakers highlighted the need for a policy roadmap for its automobile sector and that moderating Goods and Service Tax is also of importance.
In his speech, Geete assured that the government is working on a new auto policy and that it will discuss the recommendations with the auto industry before any policy is finalised. Talking
about the Goods and Service Tax, Geete said that the industry need not worry about the percentage and that the government will take the requirement of the consumer under consideration. According to the Minister of Heavy Industries, the new policy will be industry, consumer and environment friendly, while ensuring growth of the industry. The Minister also applauded the industry’s proactive involvement to help reduce its dependence on single technology and focus on R&D for sustainable development.
Also present at the convention was Nitin Gadkari, minister of road transport, who announced exemption of commercial vehicles, buses, taxis and all vehicles running on alternative fuel from the permit requirements. He also promised to open more businesses for the industry and that any two-wheeler can be run as a taxi in non-metro cities, which will provide large employment opportunities for the youth. Additionally, the government is also working on building good roads, which will reduce the usage of speed governors.
The apex body, however, feels that the Indian auto sector is growing in size and has plans to create 65 million additional jobs, while working with different stakeholders and the government to ensure sustainability and growth. Concentrating on the exports as well as the Bharat Stage-VI deadline in 2020, the industry feels that there is a need to build an ecosystem and the transition needs to be gradual than having a sudden disruption.
THE AUTO INDUSTRY CALLED
FOR A 10-YEAR POLICY ROADMAP OF THE SECTOR WHICH WILL GIVE MORE SUSTAINABILTY AND GROWTH TO THE INDUSTRY
(From L-R) President, SIAM, Rajan Wadhera, Dharmendra Pradhan, minister of petroleum & natural gas, Abhay Firodia, former president, SIAM, Nitin Gadkari, minister of road transport and PK Banerjee, executive director, SIAM
1. Firodia said IC engines will continue for another decade. 2. Geete assured the new auto policy will be consumer friendly. 3. Rajan Wadhera is the new president of SIAM. 4. Suresh Chettiar, VP, Volvo Buses, Felix Kuhnert, PwC, Guenter Butschek, CEO, Tata Motors, Anat Bonshtein, PM's office, Israel and Sugato Sen, deputy director-general, SIAM were in attendance