Minister of State for Parliamentary Affairs and Heavy Industries & Public Enterprises called on the automobile industry to be the leaders of automobile technology and not followers to usher in the next level of growth in this sector.

While addressing the inaugural session of Auto Expo Component Show 2020 organized jointly by CII, SIAM and ACMA in the capital today, Mr Goyal said: “To be the leader in technology, industry, academia and students should come together, synchronize their capabilities, move in value chain and innovate new products”, adding that the Government would give all possible support for this important industry to grow and prosper.

The Secretary highlighted the techno innovation trail of the automobile and auto component industry in India, which helped the nation to build a US$ 57 billion worth  industry, heavily focused on exports contributing to US$ 15 billion annually, besides providing employment to millions of people directly or indirectly. 

He complimented the automobile and component industry for the ease in which it has transited  from BS-5 to BS-6 within a short time-frame, while other countries took longer time frame. 

“That shows the intrinsic strength of the industry and the leadership role it can assume under difficult situations”, he added.

Mentioning that every crisis provided an opportunity for the industry to look forward and strategize to reach higher level of excellence, the Secretary opined that the automobile and component industry would leverage its resilience to rough up the present difficult trajectory and achieve more commendable height of growth.

“What is important at this juncture is reliance on technology not through adaption but evolving newer paradigms in the sustainable technology arena”, he added.

Rajan Wadhera, President, SIAM, assured the Government that the automobile industry was seized with the challenges being faced by the industry and was strategizing methodologies for overcoming them through disruption and innovation.

Deepak Jain, President, ACMA, said that the component industry is focusing on exports and innovation to become globally competitive and to align with the global supply chain.

Chandrajit Banerjee, Director General, CII, explaining the range and scope of the auto component show, said that over 1500 companies are displaying their wide range of products from 22 countries.  Also, buyers are there from 70 countries in the 15th Edition of the Auto Component Show.