Fostering Self-Reliance in India’s Auto Component Industry
The Automotive Component Manufacturers Association of India (ACMA) marked a significant milestone with its 64th Annual Session, focusing on the theme “Viksit Bharat – Fostering Self-Reliance & Global Competitiveness in Mobility Components.” The event underscored the growing importance of self-reliance and global competitiveness in India’s automotive sector.
Industry Leaders and Government Officials Join Forces
The session brought together key figures from the government and industry, including Union Ministers like Shri Nitin Gadkari (Road Transport & Highways), Shri Piyush Goyal (Commerce & Industry), and Shri H.D. Kumaraswamy (Heavy Industries). Other notable attendees included Mr. Vinod Aggarwal, President of SIAM and MD & CEO of Volvo Eicher Commercial Vehicles, Mr. Hisashi Takeuchi, MD & CEO of Maruti Suzuki India, and Mr. Sanjiv Puri, President of CII and MD of ITC.
Unveiling of ACMA-McKinsey Report: Scaling Global Competitiveness
A highlight of the event was the launch of the ACMA-McKinsey report, “Scaling Global Competitiveness and Self-Reliance,” which predicts robust growth for India’s auto component industry. With an impressive CAGR of 7-8%, the sector is projected to reach a market size of $200 billion by 2030. The report emphasizes strategic moves such as boosting exports, investing in R&D, and improving sustainability to keep India’s competitive edge strong on the global stage.
ACMA Mobility Foundation: Pioneering Innovation in Mobility
Shri H.D. Kumaraswamy officially launched the ACMA Mobility Foundation, a forward-thinking initiative that seeks to integrate stakeholders from software, electronics, and startups to drive innovation. This foundation is expected to reshape India’s mobility landscape, positioning the country as a leader in advanced automotive solutions.
Promoting Gender Diversity in Manufacturing
ACMA, in collaboration with the Gates Foundation and Good Business Lab, also introduced a groundbreaking initiative aimed at promoting gender diversity in the auto component manufacturing sector. The project will focus on creating inclusive workplaces through best practices and guidelines, ensuring the industry continues to grow in an equitable manner.
Government Leaders Share Vision for India’s Automotive Future
Shri Nitin Gadkari highlighted India’s rise as the third-largest automobile market globally, with a valuation of ₹22 lakh crore. He also emphasized the potential of domestic semiconductor and lithium-ion battery production to reduce imports over the next few years. Additionally, Gadkari pointed out the sector’s contribution to job creation and GST revenue, forecasting an 8-10% growth by 2024-25.
Shri Piyush Goyal shared his vision of transforming India into a developed nation by 2047. He highlighted the importance of self-reliance while maintaining fair global engagement and predicted that India’s auto component industry would be a key driver of growth, with export targets of $100 billion by 2030.
Shri H.D. Kumaraswamy reaffirmed the auto component sector’s critical role in India’s journey toward self-reliance, noting that initiatives like the PLI scheme and FAME II have significantly contributed to sectoral growth and localization.
ACMA Leadership Reflects on Milestones and Future Opportunities
Ms. Shradha Suri Marwah, President of ACMA and Chairperson & Managing Director of Subros, described the moment as pivotal for India’s auto component sector. She noted the launch of the ACMA Mobility Foundation on World EV Day as a symbol of the industry’s commitment to future-ready mobility solutions.
Mr. Vinnie Mehta, Director General of ACMA, echoed these sentiments, emphasizing ACMA’s focus on sustainability and a circular automotive ecosystem. He noted the organization’s dedication to setting new benchmarks in quality and innovation.
Recognizing Industry Excellence
The event concluded with awards celebrating excellence in the industry. Team ‘Strategic Squad’ from ZF Rane Automotive India Pvt. Ltd., Trichy, won the 19th ACMA National Quality Circle Competition, while Team ‘Infinity’ from RSB Transmissions (I) Ltd., Jamshedpur, received the Gender Diversity Award. These accolades highlight ACMA’s ongoing efforts to foster innovation, quality, and inclusiveness within the industry.
A Gathering of Industry Stakeholders
With over 1,200 delegates in attendance, including OEMs, component manufacturers, and government officials, ACMA’s 64th Annual Session successfully reinforced the importance of self-reliance and global competitiveness in India’s growing automotive landscape.
