Global trends to survive, thrive

Stress was laid on progression to partnering with OEM for product development from being a mere supplier at the 56th Annual Session & National conference hosted by ACMA.

The Indian auto component industry recorded a turnover of Rs.255,600 crore in 201516. Exports contributed almost 30 per cent of the Indian auto ancillary industry’s revenue at Rs.70,900 crore. From a longterm perspective, the Automotive Mission Plan (AMP) 2026 has already set ambitious growth aspirations for the ancillary sector with growth in the region of Rs.12,11,500 crore. The AMP has set exports growth ambition to the tune of Rs.462,500 crore, which would roughly amount to 35 to 40 per cent of the overall industry output by 2026. To achieve these goals, the Indian auto ancillary industry, it is clear, will have to align with global trends like electrification and lightweighting. It is clear that the industry players will have to invest in innovation and modern manufacturing practices.

This is what the captains of the Indian ancillary industry underlined at the 56th Annual Session & National Conferencee hosted by Automotive Component Manufacturers Association of India (ACMA) in Delhi recently. The conference reflected upon the changes, challenges and opportunities the industry is foreseeing. With the government’s ‘Make in India’ campaign encourging Indian companies to indulge in local manufacture of high value goods, the auto industry, the captains expressed, have an important role to play. They also drew attention to prospects like ease of doing business, and what key reforms like GST will have to offer. According to ACMA sources, the Indian auto components industry has