At the 65th Annual Convention of the Society of Indian Automobile Manufacturers (SIAM), Special Plenary Session 3, titled “Changing Global Dynamics: Implications for India in an Evolving Landscape,” underscored the growing significance of self-reliance and exports in bolstering India’s standing in the global automotive sector.
Mr. Rajesh Agrawal, Special Secretary, Ministry of Commerce and Industry, Government of India, stated: “Over the past 35 years, the Indian automotive industry has demonstrated remarkable growth and maturity. It’s encouraging to witness the strong momentum in Indian exports. We’ve progressed to manufacturing world-class vehicles that not only meet domestic aspirations but are also well-received globally. The auto-component sector is advancing in tandem, further strengthening the overall industry.
India is now focused on deeper global integration. As we look beyond becoming a $4 trillion economy, the next wave of growth will come from expanding our exports to international markets. To support this, we are actively working with developed economies to become part of global supply chains. We’ve already signed Free Trade Agreements (FTAs) with 27 countries, which have opened up deeper markets for the automobile sector. While we continue to protect and nurture our domestic industries, we are also creating new export opportunities, particularly in emerging segments.”
Mr. Sudhakar Dalela, Secretary (ER), Ministry of External Affairs, Government of India, addressed the implications of global dynamics for India’s automotive sector, stating, ” India is uniquely positioned to shape the global economic landscape. The sustained work led by the Indian industry is evident in the growth of the Auto Industry, which today contributes significantly to manufacturing GDP. While the domestic market remains robust, it is equally important for the auto industry to strengthen exports and diversify its supply chain, integrating into the global markets and value chains.
Mr. Shailesh Chandra, President, SIAM and Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., stated, “With a record 5 million vehicles exported and a landmark UK FTA unlocking new doors, the Indian auto industry is accelerating onto the world stage. Our 20% growth surge is a powerful vote of confidence in Indian quality and value. This is just the beginning. We are now geared to transform this momentum into a new era of global leadership – turning partnerships into self-reliance and potential into unparalleled growth for a ‘Atmanirbhar Bharat.”
The closing remarks were given by Ms. Shradha Suri Marwah, President, ACMA and Chairperson & Managing Director, Subros Ltd., stressing the importance of supply chain resilience.
, Special Plenary Session 3, titled “Changing Global Dynamics: Implications for India in an Evolving Landscape,” highlighted the pivotal importance of self-reliance and export-led growth in enhancing India’s competitiveness and leadership in the global automotive industry.){kind=link}