India is expected to be the world's 3rd largest automotive market in terms of volume by 2026, according to INVEST INDIA (National Investment Promotion & Facilitation Agency, Government of India)
India is a rapidly industrialising economy, with an ever-growing need for a robust transportation network to link its various metros and rural areas. Responsible for 50% of the nation's manufacturing GDP, the Indian auto sector is backed by its strong forward and backward linkages with many critical segments of the economy.
The automobile industry currently manufactures 25 million vehicles, of which 3.5 million are exported. Globally, India holds a strong position - as it is the world's largest two-wheeler and three-wheeler manufacturer, 4th largest car manufacturer, largest tractor manufacturer, 2nd largest bus manufacturer and 3rd largest heavy trucks manufacturer in the world. The sector attracted $22.4 billion FDI during April 2000 - June 2019; accounting for 5.1% of the total FDI inflows.
Auto Expo (Motor Show) 2020 and Auto Expo (Components Show) 2020 – India's largest automotive shows recently concluded on a very successful note in New Delhi. The shows demonstrated futuristic products and innovative components emerging in the mobility sector & proved that the future of the automobile sector is filled with technology innovation.
The automobile industry of India is expected to reach US$ 135 billion by 2020 and US$ 300 billion by 2026.
The story of the Indian auto sector is not that of only vehicle manufacturers, but also a globally competitive auto-components sector including tier-1, tier-2 and tier-3 suppliers. The automotive sector in India has been one of the early adopters of technological changes happening across the world. In line with global practices, Indian auto manufacturers, in recent times, have also made rapid strides towards embracing the idea of green and sustainable manufacturing.
The biggest change for the industry is the shift to BS VI emission norms by the year 2020 as well as e-mobility by the year 2030.
Although while the industry has been dealing with slowdown blues currently, many new entrants and existing companies have announced their investment and expansion plans in the Indian market - Volkswagen to invest US$ 1.2 billion in 2nd bet on India; Great Wall Motors to invest US$ 1 billion in India for R&D, production of power batteries & electric drives, vehicle & components manufacturing; Hyundai Motors and Kia Motors are investing US$ 300 million in the EV initiative; Meritor has invested US$ 36.5 million to expand its axle assembly facility in Pithampur, Madhya Pradesh; MG Motors has already announced US$ 735.5 million investment; Yamaha to invest US$ 14 million across its plants in Haryana & Tamil Nadu; and a lot more.
Moreover, the government is aware of the situation and is undertaking serious efforts to stimulate back the industry. Ambitious Automotive Mission Plan 2026 sets a target to triple industry revenues, to US$ 300 billion, and expand exports sevenfold, to US$ 80 billion. To meet these aims, it is estimated that the sector could contribute more than 60 million additional direct and indirect jobs, and the result could be improved manufacturing competitiveness and reduced emissions.
International Automotive Manufacturing Summit 2020 serves as an annual platform to exchange ideas around the impact of market dynamics and new technologies on manufacturing operations and supply chains.
NETWORK – expand your professional network
EXCHANGE – discuss ideas / information
LEARN – know about best practices / solutions to problems
UPDATE – gain new perspectives & business opportunities
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With 35 speakers, 130+ attendees, 10 competence partners, 1 association partner & 1 knowledge partner, the 1st ever edition of International Automotive Manufacturing Summit 2019 was a grand success, where the discussions revolved around the theme of `Manufacturing excellence with technology innovations'.
This video gives the highlights of the International Automotive Manufacturing Summit 2019, that was held on July 16-17, 2019 at Pune, Maharashtra, India. After a successful show of 2019, we are happy to announce the second edition of International Automotive Manufacturing Summit on June 24-25, 2020, in Gurgaon, Haryana, India.