ACMA Convenes 66th Annual Session

The Automotive Component Manufacturers Association of India (ACMA) Mobility Foundation hosted its 66th Annual General Meeting in New Delhi on Wednesday, convening policymakers, global diplomats, and automotive executives to outline strategies for integrating domestic manufacturers into international supply chains.

Organized around the theme "Beyond Resilience," the annual session reviewed the industry's financial performance and long-term expansion roadmap.

FY26 Industry Performance

The sector posted a turnover of Rs 7.6 lakh crore (USD 85.9 billion) in FY26, marking a 12.7% annual growth, and is working toward reaching a USD 200 billion valuation by 2030.

The industry's performance was supported by a 16.3% increase in component supplies to original equipment manufacturers (OEMs) and record exports of USD 24 billion. Findings from an ACMA-BCG survey presented during the convention indicated that around 90% of component executives across large, medium, and small enterprises view current operational conditions as favorable for continued expansion.

Opening the proceedings, Vikrampati Singhania, President of ACMA and Managing Director of JK Fenner, addressed the industry's strategic evolution:

"Over the past several years, resilience has defined our industry. We have navigated a pandemic, supply-chain disruptions, geopolitical conflicts, commodity volatility and profound changes in markets and mobility. Each time, the Indian automotive industry has adapted and emerged stronger. But resilience is about responding to change. Leadership is about shaping it. And I believe that is where India must now set its sights."

Delivering the special address as Chief Guest, Union Minister for Heavy Industries and Steel H.D. Kumaraswamy affirmed ongoing policy measures aimed at localized manufacturing and technology adoption:

"The theme ‘Beyond Resilience’ captures the ambition that must guide the Indian industry. The automotive and auto components industry is central to this journey. Over the past year, our government, under the able leadership of PM Narender Modi ji, has focused on translating policy intent into measurable outcomes. The Production Linked Incentive (PLI) scheme for automobiles and auto components is showing encouraging results. Our schemes are supporting investment, domestic value addition, advanced technology manufacturing and the transition to cleaner mobility."

The convention included keynotes from SIAM President and Tata Motors Passenger Vehicles Managing Director Shailesh Chandra, CII President and Tata Chemicals Managing Director R Mukundan, and Maruti Suzuki India Managing Director Hisashi Takeuchi. Discussions centered on transitioning toward Industry 5.0 systems, covering robotics, artificial intelligence, Internet of Things (IoT) applications, and workforce skilling across Tier-1 and Tier-2 suppliers.

Bilateral Trade Corridors

The event concluded with a valedictory session focused on bilateral trade corridors and Free Trade Agreements (FTAs). Addressing delegates, US Ambassador to India Sergio Gor stated:

"The United States and India are natural partners, and the automotive sector is a great example of what we can achieve together. Greater market access, more two-way investment, and deeper ties between American and Indian suppliers- especially small and medium businesses which will create real jobs, stronger supply chains, and new opportunities in advanced manufacturing and mobility. That is a win-win for both our countries."

Harjinder Kang, His Majesty’s Trade Commissioner for South Asia and British Deputy High Commissioner for Western India, highlighted the role of trade pacts in supply chain integration:

"CETA provides a strong platform to deepen India–UK automotive collaboration by expanding market access, enabling greater two-way investment and integrating Indian suppliers, particularly MSMEs, into global value chains. By simplifying trade processes and strengthening cooperation in advanced mobility, innovation and sustainable manufacturing, we can build more resilient supply chains and create long-term value for both countries."

Closing the annual session, Union Minister for Commerce and Industry Piyush Goyal reiterated the role of the component sector in ongoing international trade negotiations:

"ACMA and its members have been a pillar of support in all international FTAs and agreements done by the country. In this global turmoil, India is the one country that has stayed the course and has continued to be the fastest-growing among the large economies of the world. The 7.8% growth of India is a reality, and we know the strengths that young India brings to the table. All of these are signs that India can do much more. The story has just begun."