Goel: Innovate new products
To usher in the next level of growth for the automobile sector, the US$57 billion industry has to be a technology leader and not a follower.
“To be the leader in technology, industry, academia and students should come together, synchronize their capabilities, move in value chain and innovate new products,” said Arun Goel, Secretary, Department of Heavy Industries, called on the
Addressing the inaugural session of Auto Expo Component Show 2020, Goyal assured that the Government would give all possible support for “this important industry to grow and prosper”.
The show was organized jointly by CII, SIAM and ACMA in New Delhi on 6 Feb 2020.
The Secretary highlighted the techno innovation trail of the automobile and auto component industry in India. This has helped to build a US$57 billion worth industry, heavily focused on exports with annual export contribution of US$15 billion.
Mentioning that every crisis provided an opportunity for the industry to look forward and strategize to reach higher level of excellence, the Secretary opined that the automobile and component industry would leverage its resilience to rough up the present difficult trajectory and achieve more commendable height of growth.
“What is important at this juncture is reliance on technology not through adaption but evolving newer paradigms in the sustainable technology arena,” said Goel.
SIAM President Rajan Wadhera has assured the Government that the automobile industry was strategizing methodologies for overcoming the challenges through disruption and innovation.
ACMA President Deepak Jain underlined the component industry’s focus on exports and innovation to become globally competitive and to align with the global supply chain.
Mr Chandrajit Banerjee, Director General, CII, explaining the range and scope of the auto component show, said that over 1,500 companies displayed their wide range of products from 22 countries. Buyers from 70 countries also attended the 15th Edition of the Auto Component Show. fiinews.com