extremely optimistic about the Indian automobile industry, Nitin Gadkari, Union
Minister of Road Transport and Highways, stated that the Indian auto industry
has the ability to convert the various challenges into opportunities. The
Minister said his government would invest heavily in road transport system and
highways in order to spur the growth of the automotive industry.
was speaking to leaders and experts of the Indian and global automotive
industry at the 54th SIAM Annual Convention in New Delhi. The plenary session
of the convention was inaugurated by Vikram Kirloskar, President, SIAM and Vice
Chairman, Toyota Kirloskar Motor. The convention was attended by industry
stalwarts and policy makers.
noted that exciting times were ahead. He pointed out that massive investments
to the tune of Rs 100,000 crore had already been cleared by his Ministry for
road building, highways, bridges, etc. The New Motor Vehicle Act Draft will be
released on September 13 for public comments and the Ministry intends to pass
the same in the Winter Session of the Parliament.
mentioned that safety, lower emissions and alternative fuels shall be the prime
concern of his Ministry in future. He emphasised the need to reduce crude oil
imports, currently worth almost Rs 6 lakh crores as soon as possible to contain
the fiscal deficit. He urged the industry to produce fuel from waste as well as
switch on to alternate fuels like bio-diesel and ethanol. He further added that
the country is capable of manufacturing these alternative fuels indigenously.
All this will present huge opportunities for the Indian auto industry he added.
Munjal, Vice Chairman & Managing Director, Hero MotoCorp, in his concluding
remark assured the Minister that the industry shall convert all its challenges
to opportunities based on a roadmap. He further added that the industry feels
encouraged with the aspirational targets that it has set for itself and shall
work towards achieving these.
Anant Geete is also optimistic
in the inaugural session of the convention, Anant Gangaram Geete, Union Minister
of Heavy Industries and Public Enterprises, promised that it will be the golden
age of the Indian automobile industry for the next five years.
vowed to extend unconditional support to the industry in every way possible and
support the promise made by Prime Minister Narendra Modi of making India a hub
for manufacturing for the industry. He said that with the huge potential of the
market and well-channelised efforts of the government the industry shall not
only be able to generate employment for the country and help its economy but
itself experience a golden period in the next five years to come. He further
added that the success of the heavy industries ministry shall depend majorly on
the success of the automobile industry.
Kirloskar thanked the government for its unending support to the industry which
has helped the industry to “not only survive but thrive and flourish”. Kirloskar stressed on fiscal policies,
emissions, safety roadmap, competition laws, vehicle technologies and fuels and
trade policies, “the five key areas that will have to be addressed to ensure a
robust and healthy growth of the automotive industry in future”.
Suri, President-Designate, ACMA and Chairman, Global Autotech also addressed
inaugural session was concluded by a Vote of Thanks from Vinod K Dasari, Vice
President, SIAM & Managing Director, Ashok Leyland wherein he thanked all
the dignitaries for being there through the thick and thin of the industry. He
also said that the industry shall experience growth in the coming years with
collaborative efforts of all the stakeholders of the industry.
Picture of Nitin Gadkari, Union Minister of
Road Transport and Highways
In the future, Continental will offer Advanced Driver Assistance Systems (ADAS) solutions based on the “CV3”artificial intelligence (AI) system-on-chip (SoC) family from semiconductor company Ambarell...
Post a successful foray into the auto tech segment with the launch of the Smart Dashcam, Qubo, Hero Electronix’s consumer technology brand is expanding the portfolio with their latest Dashcam Pro 4K.
Swiss technology start-up Morand has launched a breakthrough energy storage technology, Morand eTechnology, that can recharge a city car in 72 seconds. The unique hybrid system combines the characteri...