The 62nd ACMA Annual Summit had the marquee event return to its physical form this year. In a departure from the practice of being held a day after the SIAM Annual Session, this year the suppliers kick start the two-day summit that had stakeholders of the automotive industry in full attendance. Coming on the close heels of the components industry, regaining its pre-pandemic levels and clocking the highest-ever turnover of Rs. 4.2 lakh crore (USD 56.5 billion), the industry sentiment was buoyant despite near-term concerns. The industry is hopeful of building on the newfound momentum where it surpassed the previous peak turnover (inclusive of the aftermarket) of Rs.3.95 lakh crore in FY18-19, a 23 per cent growth in FY 2021-22. Exports have registered a 43 per cent growth to Rs.1.41 lakh crore (USD 19.0 billion). With the imports growing by 33 per cent to Rs.1.36 lakh crore (USD 18.3 billion), the industry was able to register a trade surplus of USD 700 million. Using this performance as the backdrop, at Hotel Taj Palace, in New Delhi, in a pre-summit, select media gathering, ACMA committee members led by the President were joined by team McKinsey to share new findings that the industry would work around to reach the desired status to align with the future of mobility.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
NEW ZF TESTING LAB IN THE UK
ZF has opened a new testing lab in the UK. UK’s first dedicated 800V Test and Validation Laboratory is located at its R&D hub in Solihull.
CUMI RECEIVES TOT FROM DMRL
Carborundum Universal Limited (CUMI) receives Transfer of Technology (ToT) from Defence Metallurgical Research Laboratory (DMRL) to manufacture add-on composite armour for Wheeled Armoured Platform (WhAP) vehicles.
NEOLITE ZKW OPENS NEW PLANT IN PUNE
Neolite ZKW has opened a new eco-friendly manufacturing plant in Pune.
BRIDGING THE SKILL GAP
In an upfront interaction, Marcos Oliveira, President and CEO of lochpe-Maxion S.A. speaks about the upskilling initiative to bridge the skill gap and create a level playing field, with Upendra Kasbekar.
TECHNICAL EMPOWERMENT AT MAXION WHEELS
In an era where the need for skilled labour is more pressing than ever, initiatives focused on upskilling through industry-academia collaboration have become pivotal to national growth, writes
CROSS BORDER SOLUTIONS
In the automotive aftermarket, the push for digitisation has become essential for companies of all sizes seeking a competitive edge in global e-commerce
FRONT-ENGINE MULTIAXLE GARUD
Ashok Leyland has unveiled the Garud, a testament to advancements in bus chassis engineering featuring an innovative architecture and quality aggregates, writes Upendra Kasbekar.
VEERO CHASSIS AND UNDERPINNINGS
Mahindra Veero spotlights chassis innovations and robust underpinnings. The advancement in the underpinning is significant, writes .
POWERTRAINS AND THE EVOLVING AFTERMARKET
The 27th edition of Automechanika Frankfurt got underway, marking the return of the global automotive industry's largest B2B aftermarket trade fair. It underscored the powertrains and the evolving aftermarket,
HIGH PRECISION PRODUCTION
MR Components leverages intelligent automation to produce high-precision gear components monthly, optimising output with unmanned operations. In an upfront conversation, Alessandro Reguzzo, Founder and MD of the company shares the fundamental philosophy with Team
