Sunjay Kapur says the component industry must immediately focus on electrification, ESG and cybersecurity.
Addressing the industry's gathering at the 62nd ACMA Annual Convention being held in New Delhi after a gap of two years due to Covid, Sunjay Kapur, president of the Automotive Component Manufacturers Association of India (ACMA), outlined three key themes or growth drivers for the Indian automotive components industry to focus on in the coming year.
Taking cognisance of the fact that the automobile industry is witnessing a tremendous shift towards electrified propulsion technologies globally, Kapur mentioned that more than a threat, the industry should consider this transition as an opportunity to pivot into sunrise sectors.
According to Kapur, electrification, ESG and cybersecurity are the three key themes the industry must immediately focus on. "Electric propulsion is where the industry is headed towards and how do we plan an important role in making this revolution a success is what we need to seriously think about," he said.
He switched to cybersecurity, sketching it to be an extremely important pillar in the EV world. "Given the fact that cars are becoming more connected than ever before, cybersecurity, data analytics, telematics and embedded systems are going to play an extremely crucial role. India's software prowess is going to be an enabler for the automotive industry to make strides in the EV era," mentioned Kapur.
Lastly, the ACMA president touched upon ESG or Environmental, Social and Governance goals that have today become a high priority for companies as they eye sustainable future growth. "ESG targets have become extremely important as even employees have started questioning companies, especially those in the automotive space, about their sustainability strategies."
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