“Cautiously optimistic on growth as COVID continues, emphasis on strong exports and aftermarket” - Vinnie Mehta

Contributing more than 6% to the nation’s GDP as per reports in April 2021, the Indian automotive industry in its entirety provides employment to about ‘37 million people’.

In the continuing turmoil triggered by the COVID-19 pandemic, the industry is trying to step on solid ground where if stakeholders are introspecting, and some looking up to the industry leaders for directions, others are strengthening their manufacturing capabilities. In that context, it is timely to have Vinnie Mehta, Director General, ACMA, share his opinions in an exclusive interview with MO TORINDIA’s N. Balasubramanian about how the market sentiment is slowly yet steadily lifting up with cautious optimism

“According to research organizations, the Indian auto industry, including component manufacturing, is poised to grow beyond US $ 251 billion by 2026. And, a study by the Centre for Energy Finance states that the Indian EV segment has the potential to touch US $ 206 billion worth of opportunities by 2030.

Vinnie Mehta, Director General, ACMA assures the industry stakeholders that though there are challenges, the Indian automotive industry as a whole is focusing on strong growing business avenues like exports and the aftermarket segment. He is hopeful that notwithstanding the potential negative impact of the 3rd wave of COVID-19 pandemic, the industry is set to grow at the same pace as last year if not marginally better.

Excerpts from the interview:

What, according to you, is the current market sentiment in the continuing COVID pandemic coupled with lockdown challenges?