Auto Industry’s Growth is Elemental in Government’s Vision of ‘Amrit Kaal’ – SIAM Annual Convention

September 15, 2022 4:53 pm

Society of Indian Automobile Manufacturers (SIAM), the apex automobile industry body, organized its 62nd Annual Convention at New Delhi.

Prime Minister of India, Shri Narendra Modi in his message highlighted the significance of the mobility sector and its role in the progress of humanity, on the Occasion of 62nd SIAM Annual Convention. He emphasised accomplishing self-sufficiency in the automobile sector during ‘Amrit Kaal’ by availing the benefits of his government’s initiatives like the PLI scheme to boost manufacturing.

In the first plenary session, themed “Indian Auto Sector’s Journey in the “Amrit Kaal”: Vision @2047”, Guest of Honour, Mr. Anurag Jain, Secretary, and Department for Promotion of Industry & Internal Trade, Government of India(DPIIT) mentioned that India is expected to grow from 3 to 32 trillion-dollar economy by 2047. The Auto industry is extremely crucial for India’s economy and manufacturing sector. The vision is to create a strong ecosystem where the industry can thrive, which necessitates adequate investment in R&D, skilled manpower, technological advancements, and focus on knowledge and emphasis on sustainability.

Mr. Kenichi Ayukawa, President, SIAM, and Executive Vice Chairman, Maruti Suzuki said that the Automotive Industry is facing deep structural slowdown even before Covid and now in the aftermath of covid pandemic and conflict in Ukraine Industry has been facing severe strain on supply chain. He also mentioned that Auto Industry will align with Government of India’s vision in ‘Amrit Kaal.’

The 2^nd special plenary session on “Indian Auto Industry for India’s Economic Growth”, Guest of Honour, Shri Nitin Gadkari, Union Minister of Road Transport & Highways, Government of India said “For making India a 5 trillion dollar economy and to achieve the Government’s vision of Aatmanirbhar Bharat, the automobile industry will play a critical role. Within the next 5 years, we are looking at making the auto industry touch a market size of 15 lakh crore. We strongly urge the industry to be quality, innovation and safety centric. With a thrust on innovation in renewable sources of fuel like ethanol based Flex Engine and green hydrogen, vehicular pollution can be reduced substantially.”

 Mr. Vinod Aggarwal, Vice President, SIAM and Managing Director & CEO, VE Commercial Vehicles Ltd., Mr Sunjay Kapur, President, ACMA and Chairman, Sona Comstar, Dr Bornali Bhandari, Senior Fellow, National Council of Applied Economic Research (NCAER) and Mr Girish Wagh, Chairman, SIAM Commercial Vehicle CEOs Council and Executive Director (CVBU), Tata Motors Ltd also spoke in this session.

The Society of Indian Automobile Manufacturers (SIAM), a not-for-profit apex national body represents all major vehicle and vehicular engine manufacturers in India. SIAM works towards supporting sustainable development of the Indian Automobile Industry with the vision that India emerges as the destination of choice in the world for design and manufacture of automobiles. It also works towards facilitating enhancement of the competitiveness of the Indian Automobile Industry, reducing cost of vehicles, increasing productivity, and achieving global standards of quality.