SIAM’s 62nd Annual Convention: Auto industry crucial to Aatmanirbhar Bharat

In its 62nd Annual Convention, SIAM, the apex automobile industry body, discussed the significance and ways to decarbonise the Indian auto sector to help India accomplish its goal of net-zero by 2070.

Nitin Gadkari, Road Transport & Highways Minister

The auto industry’s growth is a crucial and integral part in Government of India’s vision of ‘Amrit Kaal’ and move towards an ‘Aatmanirbhar Bharat’. The industry should continue to focus on quality, innovation and safety to achieve a market size of 15 lakh crore in the next five years.

The above statements and core ideas were shared during the 62nd Annual convention of the Society of Indian Automobile Manufacturers (SIAM), the apex automobile industry body, held in New Delhi recently.

On the Occasion, Prime Minister of India, Mr Narendra Modi in his message highlighted the significance of the mobility sector and its role in the progress of humanity. He emphasized accomplishing self-sufficiency in the automobile sector during ‘Amrit Kaal’ by availing the benefits of his government’s initiatives like the PLI scheme to boost manufacturing.

In the first plenary session, themed “Indian Auto Sector’s Journey in the “Amrit Kaal”: Vision @2047”, Guest of Honour, Mr Anurag Jain, Secretary, and Department for Promotion of Industry & Internal Trade, Government of India (DPIIT) said, “India is expected to grow from 3 to 32 trillion-dollar economy by 2047. The auto industry is extremely crucial for India’s economy and manufacturing sector. The vision is to create a strong ecosystem where the industry can thrive necessitates adequate investment in R&D, skilled manpower, technological advancements, and focus on knowledge and emphasis on sustainability.”

Mr Kenichi Ayukawa, President, SIAM, and Executive Vice Chairman, Maruti Suzuki said, “The automotive industry is facing deep structural slowdown even before Covid. He further said “In the aftermath of covid pandemic and conflict in Ukraine, the industry has been facing severe strain on supply chain. The auto industry will align with Government of India’s vision in ‘Amrit Kaal’”.

During the second special plenary session on “Indian Auto Industry for India’s Economic Growth”, Guest of Honour, Mr Nitin Gadkari, Union Minister of Road Transport & Highways, Government of India said, “For making India a five-trillion-dollar economy and to achieve the government’s vision of ‘Aatmanirbhar Bharat’, the automobile industry will play a critical role. Within the next five years, we are looking at making the auto industry touch a market size of 15 lakh crore. We strongly urge the industry to be quality, innovation and safety centric. With a thrust on innovation in renewable sources of fuel like ethanol-based flex engine and green hydrogen, vehicular pollution can be reduced substantially.”

Mr Vinod Aggarwal, Vice President, SIAM and Managing Director & CEO, VE Commercial Vehicles Ltd., Mr Sunjay Kapur, President, ACMA and Chairman, Sona Comstar, Dr Bornali Bhandari, Senior Fellow, National Council of Applied Economic Research (NCAER) and Mr Girish Wagh, Chairman, SIAM Commercial Vehicle CEOs Council and Executive Director (CVBU), Tata Motors Ltd, also shared their views in this session.

The convention also discussed the significance and ways to decarbonise the auto sector to help India accomplish its goal of net-zero emissions target by 2070. The third plenary session titled “Decarbonising Indian Auto Sector” witnessed the participation of Dr. J. R. Bhatt, Advisor/Scientist, Ministry of Environment, Forest and Climate Change, Government of India, Mr Andre Aranha Correa Do Lago, Brazilian Ambassador to India, Mr Sharad Verma, MD and Senior Partner, Boston Consulting Group, Mr K N Radhakrishnan, Chairman, SIAM Two Wheeler CEOs Council and Director & CEO, TVS Motor Company Ltd, Mr Diego Graffi, Chairman, SIAM Three-Wheeler CEOs Council and MD & CEO, Piaggio Vehicle Pvt. Ltd, major auto makers and other dignitaries.

Mr Andre Aranha Correa Do Lago said, “Brazil will work with India on flex-fuel technology, sustainable aviation fuels, second generation ethanol, hybrid flex fuel vehicles, fuel cells, etc.”

In the fourth session, several senior leaders from the Government, policymakers, and industry experts deliberated on and brainstormed strategies for the future of sustainable mobility.

In this special plenary session, Mr Arun Goel, Secretary, Ministry of Heavy Industries, Government of India, said, “We need to encash the disruption of modern technologies and innovative approaches such as EVs, biofuels, and others. The government and the industry need to make dedicated efforts to help India achieve the target of net-zero by 2070, while making the country auto manufacturing hub for the world.”

Mr Kenichi Ayukawa made the concluding remarks at the event while thanking all the stakeholders.