SIAM convention emphasises on auto industry

The Society of Indian Automobile Manufacturers (SIAM) organised its Annual Convention 2013 to commemorate the social and economic value created by the Indian automobile industry. The theme of this year’s Annual Convention was “Contribution of Auto Industry in Economic Development”. Union Minister of Heavy Industries & Public Enterprises, Praful Patel was the Chief Guest. S. Sandilya, President, SIAM and Chairman, Eicher Motors Ltd - Unit Royal Enfield, welcomed the guests and delegates present at the convention. In his Welcome Remarks, he spoke about the importance of the Indian Automotive Industry and steps required to arrest the decline in the sector. “The deceleration of the industry is primarily due to both external factors as well as domestic structural issues. The Automobile industry is one of the highest contributors of revenue and employment in the country, and needs a more moderated tax and excise duty structure in order to ensure further growth of the industry. I am confident in the long term growth of the industry, and feel that if the government and shareholders work together, India will have a unique opportunity to emerge as a leading global player.” Delivering the Opening Address, Praful Patel, Minister of Heavy Industries & Public Enterprises spoke about the need for the government and industry to work together to ensure economic development. “This is a challenging time for the automobile industry, as well as the Indian economy as a whole.