SIAM and ACMA hold annual conventions

The Society of Indian Automobile Manufacturers held its 48th annual convention in New Delhi on Sept 4. Among the challenges facing the auto sector that were discussed at this meet were climate change, innovation and employing the right people. The day long session saw participation from top executives of Indian and global automobile and auto ancillary companies. This year also marks 60 years of Indian automobile manufacturing. Inaugurating the session, Minister of Heavy Industries and Public Enterprises Sontosh Mohan Dev, highlighted the challenges being faced globally by automobile manufacturers. He stressed on factors such as rising input costs, increasing fuel prices, escalation of competitive and inflationary pressures and the looming dangers of global warming and climate change while challenging Indian auto manufacturers to work around these impediments. He highlighted the need for innovation and cleaner and sustainable technologies in order to surmount these challenges. Speaking on the government’s commitment to encouraging the Indian auto industry, Dev spoke about the Automotive Mission Plan 2016 and reiterated the government’s single minded focus to make the Indian auto sector globally competitive. Making the welcome address for the session, Ravi Kant, president, SIAM and managing director, Tata Motors started off by congratulating the industry on its consistent 13 percent growth in the last seven years and highlighted Innovation as a key factor for growth. Speaking about the Nano, Kant said that innovations such as this will change the paradigm for the sector, globally. Speaking on the Automotive Mission Plan 2006-2016, Kant expressed belief that the sector will do better in years to come, with growth predicted across segments. However, he was quick to point out the new challenges for players in the sector, namely, shrinking demand, rising input costs, increased cost of fuel, climate change threats and the shortage of talented manpower. Highlighting inflationary pressures and rising costs of steel, copper and rubber along with increasing interest rates, Kant urged the government to take timely, and corrective measures in order to maintain momentum of the Automotive Mission Plan. Meanwhile, at its annual convention on Sept 3, the Automotive Component Manufacturers Association of India focussed on Reseach and Development as a key differentiator that would give India the much-required competitive edge.