ACMA’s 63rd Annual Session Emphasises on Theme of ‘Sustainability for Competitiveness’
A collaborative research paper by ACMA and McKinsey & Co. with the title ‘Mobility 360° - Sustainability for competitiveness’ was also featured in the event. The report goes in-depth on the subject of the growing significance of sustainability, energy decarbonization, material circularity, and the demand for affordable substitutes.
September 14, 2023. By EI News Network
Nitin Gadkari, the Union Minister for Road Transport & Highways, Piyush Goyal, the Hon. Union Ministers for Textiles, Commerce & Industry and Consumer Affairs, Food & Public Distribution, Dr. Mahendra Nath Pandey, the Hon. Union Minister for Heavy Industries, Amitabh Kant, the Hon. Union Minister for Sherpa G-20, and other officials attended the Annual Session.
A collaborative research paper by ACMA and McKinsey & Co. with the title ‘Mobility 360° - Sustainability for competitiveness’ was also featured in the event. The report goes in-depth on the subject of the growing significance of sustainability, energy decarbonization, material circularity, and the demand for affordable substitutes. The research also emphasizes how the automobile and auto ancillary sector can significantly contribute to India's goal of achieving net-zero emissions by 2070 while also creating more value and growth.
Addressing the event, Nitin Gadkari, Union Minister for Road Transport & Highways, stated, “The auto component industry is playing a pivotal role in propelling India's growth, seizing emerging global opportunities with its distinctive competitiveness and innovation. The way the industry is embracing electrification, technology, digitization, and a range of alternative fuels, and together crafting a powerful engine to redefine the mobility space in the country, is truly commendable.”
Piyush Goyal, Union Minister for Textiles, Commerce & Industry and Consumer Affairs, Food & Public Distribution, said, “It is reassuring to see the efforts of ACMA for fostering a robust automotive supply chain, advocating policies, promoting localisation, and enhancing competitiveness. The Indian automotive ecosystem has the potential to define the sector at a global scale and be more sustainable. The industry players are making successful strides to ensure global prominence by driving tech-led innovation supported by a favourable business environment.’’
Dr. Mahendra Nath Pandey, Union Minister for Heavy Industries, added, “The government’s favourable policies are unleashing India's potential to revolutionize the global mobility landscape. It's truly commendable to witness the Indian auto components industry emerging as a powerful force shaping a greener and more efficient future for mobility. With the close collaboration between the government and the industry players, India is writing new chapters of global excellence and competitiveness.”
The governing body for the Indian auto component industry is the Automotive Component Manufacturers Association of India (ACMA). More than 850 manufacturers make up its membership, which accounts for over 90 percent of the organized sector's revenue in the car component business.
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