The Union Commerce and Industry Minister Piyush Goyal during these difficult times has called upon the Indian automotive component manufacturers to work in the spirit of cooperation, collaboration and commitment and compete with the rest of the world and grow with confidence.
While Addressing the Automotive Component Manufacturers Association (ACMA)’s 60th Annual Session on Saturday, the minister said there is a huge demand for trusted partners in resilient global supply chains.
As per an official release, the Minister said that the industry is ready for the future and is going to emerge victorious in the post-COVID world.
“It is only in the time of crisis that best comes out of our organisation. Through trade promotion, technology upgradation, quality enhancement, measures to collect and disseminate information, ACMA can be at the forefront of this new normal”, .~ Piyush Goyal, Union minister of commerce and Industry
He further said that the entire nation has worked upon and adopted to the PM’s call for Atmanirbhar Bharat to engage with the rest of the world from a position of strength and confidence.
He reaffirmed that there is a huge demand for trusted partners in resilient global supply chains.
“We will expand our global engagement. We see huge opportunities to expand businesses and provide truly high-quality products at competitive prices and become that trusted partner,” the minister said.
The Minister also touched upon the topic of the positive trends in the Indian economy.
“In the Railways last month, we have been able to grow our freight traffic by 4% over the corresponding period last year. In the current month, the trend is even better than that. Tractor sales have already been revived, two-wheelers and three-wheelers are also showing very good traction. It is a day to bring in positivity into our crystal gazing of the future, move out of pessimism and look forward with hope and faith,” he said.
“We should start taking measures to tighten the belt, improve productivity, start looking at every element of cost and smarter solutions to become the preferred suppliers to customers,” he said.
The minister said perseverance towards quality and bringing in scale, the industry will certainly become more export competitive.
He said “aftermarket business” can open up a lot of opportunities for ACMA if the industry starts looking at more affordability and more attractive ways.
He also called for innovative financing for the auto industry.