The Automotive Component Manufacturers Association (ACMA) organised the sixth edition of ACMA Technology Summit & Awards on February 25.
Themed ‘Towards Atmanirbhar Bharat – Technologies for Sustaining Growth’, the summit was inaugurated by the Union Minister for Road Transport and Highways & MSMEs, Mr Nitin Gadkari.
The annual platform also honoured small, medium, and large enterprises for excellence across various parameters.
Organized on a virtual platform, the summit brought industry experts to deliberate on building an Atmanirbhar automotive value-chain through cutting-edge technologies and collaborate for de-risking against disruptions.
Thought leaders from the industry, Government and the academia emphasised on adopting new technologies, manufacturing practices, and business models to sustain growth and stay ahead of the curve.
A knowledge session on ‘Emerging Technologies – Redefining India’s automotive landscape’ was also organised as part of the summit.
Around 60 auto component players were recognised and honored for their path-breaking initiatives in distinctive domains such as Manufacturing, New Product Development, Exports, Human Resource Development, and Health Safety & Environment.
Addresssing the summit, Mr Kenichi Ayukawa, President of Society of Indian Automobile Manufacturers (SIAM), said while vehicles sales in some segments have recovered post-lockdown, challenges continue on the business front due to shortage of steel and semi-conductors,
In the first 10 months of the on-going fiscal year, passenger car sales are behind by six years, two-wheelers by seven years and commercial vehicle/three-wheelers sales have receded even further, he said. Vehicle and component makers need to focus on quality, research and development and maximise localisation to return to normalcy, he added.
Commenting on the summit, Mr Deepak Jain, President, ACMA, said, “As an industry, we have collaborated well to face the unprecedented disruptions in wake of the pandemic. We are also thankful for the supportive policy interventions by the Government which helped us to sail through the difficult period. Now, we need to pay attention to find innovative ways to sustain growth, ensure a robust supply chain and create more value-addition.
Mr Jain further said adopting new and modern technologies will be the key for the industry to remain competitive. “With a fast-changing regulatory environment and India becoming a preferred destination for designing and manufacturing for most global auto OEMs, it is imperative for the auto component industry to invest in latest technologies to stay relevant,” he said
Speaking about the ACMA Annual award, Mr Vinnie Mehta, Director General, ACMA, said “We witnessed an unprecedented crisis in 2020 but the entire industry came together to support each other and collectively face the challenge. The auto component industry has displayed remarkable resilience and it is a great time to reward and recognize industry efforts. We are proud to conclude this edition of the ACMA Technology Summit and Awards and congratulate all the winners and applicants as each one of them embodies this spirit of excellence.”