ACMA 2nd New Delhi Automotive Summit 2017 concludes

Automotive Component Manufacturers Association (ACMA), the apex body representing Indian auto component Industry organised the 2nd New Delhi Automotive Summit 2017 from February 3 to 4, 2017, themed “Synergising with Global Supply Chains”.                

Girish Shankar, Secretary (Heavy Industry) Ministry of Heavy Industries & Public Enterprises, Government of India in his speech at the summit said, “All reforms and policies introduced by the government in the recent past are aimed at making the industry more competitive. The auto components industry is expected to grow fivefold touching a turnover of USD 180 to 200 billion in the next 10 years. The government is continuously focusing on enhancing the ease of doing business in India, GST being one of the biggest initiatives for the cause, which will help streamline the prevailing indirect tax structure in the country. It is crucial for the Indian Automotive Industry to synergise with the global supply chain and focus on R&D and Innovation. With a successful creation of crash-test facility at NATRIP, we are set to achieve higher standards in vehicle safety. With fund sanction for second phase of FAME scheme in the recent Union Budget we are facilitating significant traction for electric mobility in the country.”

The summit was graced by eminent personalities and dignitaries such as Girish Shankar as the Chief Guest, Chaand Sehgal, Chairman, Samvardhana Motherson Group & Motherson Sumi Systems Ltd, Deep Kapuria, Chairman, Hi-Tech Group, Rattan Kapur, President, ACMA and Nirmal K Minda, Vice President, ACMA.

Ms. Priyam Saraf, Economist - Young Professional, Trade & Competitiveness World Bank Group presented results of a recent World Bank Study on the Indian Auto-Component Industry's Competitiveness in Global Value Chain and the imperatives for the industry to stay competitive in tune with the dynamism of the global automotive value chain.