Suppliers showcase exciting new innovations
The 14th edition of the Auto Expo Component Show 2018 opened to a vibrant start on February 08. The buoyant mood was visible across the participants including those visiting from over 20 countries.
The synergies between the organisers – CII, ACMA and SIAM was much appreciated by the two union ministers gracing the inaugural ceremony, Mr. Anant Geete, Minister of Heavy Industries, and Mr. Suresh Prabhu, Minister of Commerce and Industry, besides Ms. Shobhana Kamineni, CII President, Dr. Abhay Firodia, SIAM President, and Mr. Nirmal Minda, ACMA President.
Mr. Geete assured all the stakeholders present that, “We at the Ministry of Heavy Industries realise that globalization is marked by global competence and that India needs to take long strides to come on par with it. So to remain ahead, MHI assures you all the support you require.” Further, he acknowledged that over and above all the manufacturing industries, it is the automotive and auto components industries that have contributed the largest share to the growing Indian economy besides being the largest generator of employment.
Mr. Prabhu, on the other hand, shared: “Auto component industry is the first success story of what a global value chain should ideally be.” He said it is the value addition to our manufacturing and services that will enhance our industry’s appeal globally. He further acknowledged that, “For this to happen, we need proper infrastructure.” And in that context, he shared with the stakeholders present the talks that are underway with the Chief Minister of Andhra Pradesh, Mr. Chandrababu Naidu to build a base for component manufacturing, “The port-based infrastructure on the east coast will bring cohesiveness to the industry and it is worth replicating on the west coast, may be in Maharashtra, because then not only all component manufacturers will be under one roof but also from here export and imports can take place seamlessly.”
Taking the opportunity to thank the support from the relevant ministries, Ms. Kamineni said: “CII has studied and is proud to share that there are 28 manufacturing sectors that can push India’s growth to double digit and out of these, five of them are from the auto industry.” She recognized that the auto industry is undergoing many disruptions owing to new business models and technology. She said, “Electric vehicles offer a new avenue for manufacturing.”
Dr. Firodia congratulated the automotive and auto component industries for displaying exceptional talent such as new technology and innovation and how it has extended support to nascent companies in building new models. But he also warned of the new and immense challenges that the industry is going to face in near future but he was confident of the success, “Exports are a sign of maturity and quality and we are doing that aggressively.” He was proud to announce that the auto component industry is the leader in exports exceeding even the automotive industry.
On the occasion, Mr. Minda urged the Commerce and Industry Minister to integrate ‘automotive mission plan’ in the proposed industry policy; to which the minister responded in affirmative saying that, “We will ensure that the proposed industrial policy – which is in the final stages of preparation – will surely have a special address of the automotive mission plan.” Mr. Minda also shared: “It should come as a timely reminder that Indian automotive aftermarket is a dynamic segment which is worth US$8.5 million.”
All the stakeholders including the Union Ministers acknowledged that the automotive industry, including the component sector, needs to scale up standards and nurture a sense of ‘nobility with mobility’ and display a higher level of corporate governance.
All in all, the first day of the 14th edition of the Auto Expo – Component Show made for an exciting and fruitful experience for all participants and visitors.