Self-Reliance and Global Competitiveness at the Forefront of ACMA’s 64th Annual Session

The Automotive Component Manufacturers Association of India (ACMA), the leading organisation for India’s auto component sector, held its 64th Annual Session today, centered on the theme ‘Viksit Bharat – Fostering Self-Reliance & Global Competitiveness in Mobility Components.’ The event brought together distinguished figures from both government and industry, including Shri Nitin Gadkari,Minister of Road Transport & Highways; Shri Piyush Goyal,Minister of Commerce & Industry; Shri H.D. Kumaraswamy,Minister of Heavy Industries; Shri Jitin Prasada,Minister of State of Commerce & Industry and Electronics and Information Technology; Dr. Pawan K. Goenka, Chairman of SCALE and IN-SPACe; Mr. Vinod Aggarwal, President of SIAM and MD & CEO of Volvo Eicher Commercial Vehicles; Mr. Hisashi Takeuchi, MD & CEO of Maruti Suzuki India; and Mr. Sanjiv Puri, President of CII and MD of ITC. A key highlight was the unveiling of a joint report by ACMA and McKinsey & Co., titled ‘Scaling Global Competitiveness and Self-Reliance.’ This report highlights the industry’s strong growth trajectory, with a compound annual growth rate (CAGR) of 7-8%, and projects a market size of $200 billion by 2030. It calls for strategic actions such as leveraging export opportunities, increasing investments in R&D and innovation, and improving quality and sustainability standards to maintain a competitive edge globally. Shri H.D. Kumaraswamy,