Indian auto industry discusses changing dynamics of global trade policies

  • Industry News
  • Jan 18,23
SIAM organizes the Auto Trade Dialogue at Auto Expo 2023 on the fourth day, foreign delegates discuss dynamics of Global Automotive Trade Policies with Indian industrialist and policy makers
Indian auto industry discusses changing dynamics of global trade policies

On January 14, Society of Indian Automobile Manufacturers (SIAM) organized ‘Auto Trade Dialogue’ initiating discussion on policies and trends in global automotive industry. The event caught insights from policy makers from the Ministry of Commerce & Industry, the Ministry of Heavy Industries, the Government of India and the Indian Auto Industry alongside experts from different countries like Bangladesh, Europe, Germany, Japan, Nepal, Sri Lanka, Africa and the United Kingdom marked their presence and made the event a success.

With the discussion to begin Rahul Bharti, Chairman, International Relations & Trade Policy Group, SIAM and Executive Director of Maruti Suzuki India said that the auto sector has seen a paradigm shift especially with the introduction of electric, hydrogen-based fuels and biofuels.

“Decarbonisation is our responsibility and even the government is participating in the transition by introducing subsidies,” he said. Vinod Aggarwal, President, SIAM and MD & CEO, VE Commercial Vehicles Limited added, “Auto trade policies have received desirable focus in the past years. As India becomes an important player in the global Auto Industry, we aspire to be one of the leading economies with a strong export footprint.”

The panel comprising government officials Dr Hanif Qureshi, Joint Secretary, Ministry of Heavy Industries and Dr Srikar Reddy, Joint Secretary, Ministry of Commerce and Industry presented the figures. “With auto industry’s turnover of $123 Billion, India is one of the largest markets globally.

We hope to strengthen our relationship with Governments, manufacturers & consumers, and build an ecosystem where the sector can thrive” said Qureshi. “With the ambitious target of reaching $1 trillion total trade exports by 2030, we look forward to the Indian auto Sector to contribute $100 billion in exports by the year 2030,” added Reddy.

The foreign officials discussed policy initiatives for the Auto Sector’s Developments, Emerging Mobility Scenarios, and showcased learning and experiences of their respective countries. “Trade will be the vehicle to cement the relationship between India and South Africa,” said Cedrick Crowley, Deputy High Commissioner, High Commission of South Africa. Anna Shotbolt, Deputy Trade Commissioner of British High Commission Indian and Nathalie Gminder, First Secretary, German Embassy also embraced the event by their spirit for the Indian Industries.

With speakers from Sri Lanka, Bangladesh and Nepal, the session on ‘Policy Initiatives for the Auto Sector’ moderated by Bhagwan K Bindiganavile, Senior Vice President, Strategy Brand & Communications, VE Commercial Vehicles discussed the development of E-mobility and need to strengthen manufacturing capabilities.

Another session on ‘Changing Dynamics in Global Automotive Policies and Trade’ moderated by Rahul Bharti, Chairman, SIAM International Relations & Trade Policy Group and Executive Director, Maruti Suzuki India discussed the various facets of Trade, Technology, Climate Change, Supply Chain and Rules of Origin. The panel names for the session included Mike Hawes, Chief Executive, Society of Motor Manufacturers and Traders (SMMT) - United Kingdom, Jonathan O'riordan, Trade Director, European Automobile Manufacturers’ Association (ACEA), Europe, Takao Aiba, Chair, International Policy Expert Group, Japan Automobile Manufacturers Association (JAMA), Angela Mans, Head of Foreign Trade and International Relations, Verband Der Automobilindustrie e.V. (VDA), Germany, David Coffey, CEO, African Association of Automotive Manufacturers – Africa, Bipin Menon, Development Commissioner, Noida Special Economic Zone, Department of Commerce, Biswajit Nag, Professor, Indian Institute of Foreign Trade.

Sachin Arolkar, Co-Chairman, SIAM International Relations & Trade Policy Group and Head International Operations, Mahindra & Mahindra Ltd., concluded the conclave by highlighting the complexities of trade in the recent years along with Geo-political implications which is challenging for the business, but all the regions committed to work closely in making the Global Auto trade more robust.

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