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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.
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