T V Narendran,
President, Confederation of Indian Industry (CII) and CEO and MD, Tata Steel
Ltd said that the Indian auto ancillary industry should expand its export list
and reach at least 5% of global components trade by 2026. He shared his views
at the 61st annual session of the Automotive Component Manufacturers
Association of India (ACMA).
He said that
India should create capabilities in semiconductors now that electric mobility
had started gaining momentum. He added that the Indian auto ancillary industry
should try expanding its export list and achieve at least 5% of global
components trade by 2026.
President mentioned that the global semiconductor shortage had changed the
nature of the industry. He further emphasised the Indian automotive sector to
enhance the localisation efforts of its auto components throughout its supply chain.
The global semiconductor shortage started last
year and affected several automakers, including Indian players like Maruti
Suzuki India, Tata Motors and Mahindra & Mahindra. The general estimate is
that the semiconductor shortage might not get resolved until next year.
Source – HT Auto
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