Collaboration is the need of the hour for automakers with IoT, AI, connected technologies etc, playing a key role in the future, said Anurag Jain, Secretary, Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry.
Delivering a special address at the 62nd Annual Convention of the Society of Indian Automobile Manufacturers (SIAM), he added that ADAS and software would give huge opportunities, too, and this is where global partnerships were critical.
Even while the recession in the West and geopolitical tensions are realities to contend with, the opportunities are huge for Indian automakers, which need to invest more. According to Jain, the next 12 to 24 months are crucial for bringing in investments.
Earlier, Kenichi Ayukawa, President, SIAM & Executive Vice Chairman, Maruti Suzuki, said India would be one of the two largest producers in every automotive segment worldwide. It would also be near 100% Atmanirbhar or self-reliant in the entire manufacturing value chain and have a large share of clean energy vehicles on a lifecycle basis.
Hence, there will be a significant share of all feasible technologies, including battery electric, ethanol, flex-fuel, CNG, bio-CNG, hybrid electric and hydrogen. These ambitious targets will also require some key enablers especially the single-minded pursuit of competitiveness. 'We have to achieve global levels of quality with the lowest cost structure in the world,” said Ayukawa.
It was also his view that a long-term regulatory roadmap would help in better planning of investments, technologies and product development. Over the next 25 years, the auto industry will develop multiple alternative technologies or energy options which are closest to carbon net zero and suit the Indian context.
'Similarly, we have to increase the traction on other frontiers like safety, telematics, infotainment, customer convenience features, etc,' said Ayukawa. Beyond all this, it was important to ensure the right levels of skilling and reskilling to make manpower future-ready.
Sanjiv Bajaj, President, CII and CMD, Bajaj Finserv, said there were tremendous changes in the mobility ecosystem, translating into new opportunities. Leveraging them would need collective might, he added.
Changing consumer preferences and semiconductor shortages remain big challenges, and a domestic semiconductor ecosystem would help the cause. In addition, said Bajaj, the industry needs to focus on building safer vehicles and align safety with UN guidelines.
Vinod Aggarwal, Vice President, SIAM and MD & CEO, VE Commercial Vehicles, while proposing a vote of thanks, said all segments within the automotive industry must play a vital role in ensuring success.
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