Schedule a Call Back
SIAM holds Automotive Sourcing Conclave 2024
Industry News- Dec 06,24
The sessions explored innovative solutions to enhance supply chains for EVs, adopt emerging technologies in sourcing, and harmonise regulatory compliance with operational resilience for a competitive edge.
The Society of Indian Automobile Manufacturers (SIAM) organised the SIAM Automotive Sourcing Conclave 2024, themed 'Towards Building a Resilient Supply Chain'. The conclave emphasised the importance of fostering resilient supply chains to support the automotive industry's evolution, ensuring sustained growth and alignment with the nation's self-reliance goals. The conclave witnessed the participation of senior government officials, automotive industry leaders, and experts from the automobile supply chain, who came together to discuss strategies for creating robust and future-ready supply chains.
The conference included three sessions: ‘Strengthening the Supply Chain Ecosystem for Electrified Vehicles’, ‘Preparedness for Futuristic Technologies’ and ‘Balancing Regulatory Compliance vis-a-vis Supply Chain Resilience’. These sessions explored innovative solutions to enhance supply chains for EVs, adopt emerging technologies in sourcing, and harmonise regulatory compliance with operational resilience for a competitive edge.
On this occasion, Dr Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, Government of India, said, “The automotive industry is a key driver of India’s economy and Aatmanirbhar Bharat is our collective mission. With the Ministry of Heavy Industries advancing local production, R&D, and critical component investment, the supply chain is rapidly evolving. Schemes like PM eDRIVE are boosting local production and R&D, reducing import dependency, and strengthening the supply chain. In FAME1 & FAME2, we had 18 components in our list, but now after discussion, we will shortly circulate a new list with 8 to 9 parts, as others are now being manufactured in India. As of March 2024, Rs 180 billion has been invested in the localisation schemes.”
Vimal Anand, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, said, “The automobile industry is a cornerstone of India’s economy, contributing significantly to the nation’s GDP. The government recognises the importance of strengthening domestic manufacturing and fostering robust supply chains, especially those involving MSMEs and local vendors in Tier 2 & 3. The Ministry of Commerce is committed to working closely with the auto industry to address specific concerns at any level of the supply chain or to adapt to new regulatory requirements. An increase in localisation content can only be driven if we have home-grown companies developing cutting-edge technologies."
Vinod Aggarwal, Immediate Past President, SIAM and Managing Director & CEO, Volvo Eicher Commercial Vehicles Ltd., said, “In collaboration with ACMA, SIAM has actively championed Aatmanirbhar Bharat by advancing deep localisation and systematically reducing import reliance. SIAM members are committed to reducing imports to the tune of 250 billion in a period of 5 years. The industry has submitted a list of about 50 critical components to be sourced locally. The government’s PLI schemes have been pivotal in strengthening India’s capacity and capabilities and we are grateful for their steadfast support which is essential to remain competitive globally and resilient in the face of global uncertainties.”
The conference included esteemed industry leaders and experts, including Niranjan C, Chief Operations Officer, Amararaja Advanced Cell Technologies; Hirendra B Divgi, Executive Director, Divgi Torq Transfer Systems Ltd; Vishwas Deshpande, Director - Purchase, JSW MG Motors; Badrish Sinha, Co-Chairman, SIAM Aatmanirbhar Bharat Sourcing Group and Vice President-Purchasing, Volvo Eicher Commercial Vehicles Ltd.; and Krishan Kohli, President & CEO – Light Weighting Business & Nano Technologies, Kalyani Strategic Management Services Ltd, among others.
Related Stories
Smart Manufacturing
AIIMS organises 3D printing workshop for innovations in medicine and healthcare
The workshop offered a diverse lineup of sessions focusing on 3D printing applications in surgical education, neurosurgery, orthopaedics, and biomedical engineering.
Read moreAuto & Auto Components
Isuzu doubles production, rolls out 100,000 vehicles in two years
Isuzu’s journey in India began in 2016 with the establishment of its Sri City facility.
Read moreMaterial Handling Equipment
Optimising inventory management to reduce inventory losses this holiday season
Optimising inventory management is imperative for preserving profitability and fostering stakeholder trust. Emily Newton explains in detail how to go about it.
Read moreRelated Products
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
