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Against he backdrop of encouraging news from the IMF on global recession being on its way out, the 49th Annual SIAM Convention was held recently in Delhi. The chief guest, Vilas Rao Deshmukh, Minister of Heavy Industries and Public Enterprises, inaugurated the convention with the Revival, Restructuring and Sustainable Growth as theme in the presence of top executives of both Indian and International automobile and auto ancillary companies. Deshmukh, in his inaugural speech, acknowledged and appreciated the role SIAM has been playing over the last 50 years and applauded the fact that the year 2009 marks the beginning of SIAM's 50th year celebrations. Noting that the Indian auto industry has been going through a very challenging period in recent times due to the global recession, Deshmukh agreed that the industry had not been insulated from the negative effects of global recession. He, however, pointed out that thanks to the Indian government's prompt action the impact on Indian industry had been cushioned somewhat.
He further stressed that environmental and climate change issues were also very important issues of the day and while there has been a start in certain quarters, alternative fuel/technologies have to be embraced wholeheartedly. He also touched upon the fact that setting up a National Auto Design Centre was a priority as was the Automotive Testing and R&D Infrastructure Project (NATRiP) project, which would provide unique and better testing opportunities to manufacturers and would help manufacturers bring down costs as such facilities are currently available abroad only.
Ravi Kant, President, SIAM, and Vice-Chairman, Tata Motors, traced the path SIAM has taken since August 1958 when the first automobile association of India industry of India was formed in what was then Bombay. Post his description of SIAM's role in the Indian automobile industry Ravi Kant set the tone by giving an overview of domestic sales trends and the several different vehicle categories. Touching upon the receding recession, Mr Ravi Kant clarified that the automobile industry is not yet out of the woods even though the current scenario has changed for the better in some ways, like the youth of India now having more disposable income.
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