The automotive component industry in India is one of key drivers of India’s economic growth. Well-developed companies manufacture a wide range of products including engine parts, drive transmission and steering parts, body and chassis, suspension and braking parts, equipment and electrical parts, besides others.
The Automotive Component Manufacturers Association of India (ACMA) held a webinar on “Digital Initiatives to Secure Aftermarket Business with Social Distancing & changing Consumer Needs“which took place on May 10. The webinar was moderated by Rama Shankar Pandey, Managing Director of Hella India Lighting Ltd. as well as Chairman of the Aftermarket Committee at ACMA. More than 700 participants from all over the world joined the session.
ACMA represents the interests of the Indian auto component industry. Its membership of over 800 manufacturers contributes more than eighty-five percent of the auto component industry’s turnover in the organised sector. The association plays an important role in bringing professionalism and organization to the Indian automotive aftermarket. The key is to standardize vehicle and parts data so that the market can “speak” the same language. The ACMA regularly encourages its members to participate several digitization initiatives.
Importance of a standardized and shared database
The primary focuses of the webinar were on exchanging practical experience and observing current market developments. We are really proud that our Director TecAlliance India, Vats R. Srivatchan, held a keynote on the importance of a standardized and shared database for the Indian aftermarket. He presented our well-known solutions and introduced the latest innovations, features and benefits of the TecDoc Catalogue. As one of the world’s leading data specialists connecting the digital automotive aftermarket, we would like to take the Indian market to the next level together with ACMA and some data suppliers. Being on a single platform with a global standard catalogue will help Indian suppliers in more than one way. Also, as Indian suppliers are increasingly tapping overseas markets, our presence in the key global markets will open up these markets to them.
Further insightful presentations were given by well-known representatives of the industry on the following topics:
- Future of IoT and other Digital initiatives in the Automotive Aftermarket of China
- Skilling for the Automotive Sector
- Cloud-based Prognostic Maintenance of Vehicles
- Latest updates on seamless car servicing by skilled Technicians
Want to get details? Watch the recorded webinar here: https://www.youtube.com/watch?v=qrhCmuzz6hE
Running in the top gear
According to research by IHS Auto Database, India is expected to emerge as the world’s third-largest passenger-vehicle market by 2021. The automotive component industry contributes 2,3% to India’s National GDP and 25% to the National Manufacturing GDP. The automotive industry directly and indirectly employs as many as 37 million Indians. In 2018-19, the turnover of the industry stood at USD 57 billion with USD 15 billion in exports. The sector exports to almost all of world’s leading vehicle manufacturers and Tier 1s, which speaks of its strong capabilities and global competence. The industry is dominated by small and medium-sized enterprises that is one of the key drivers of India’s economic growth andthe government’s “Make in India” initiative.