The Indian automotive industry was already confronted with a phase of slowdown when COVID-19 struck. Consequently, 2020-21 has been the second year of contraction for the industry. Clearly, we are navigating a tough and challenging phase. As an industry, we have risen to these challenges with great aplomb by focussing on fiscal prudence, endeavouring to be even more competitive and transforming our ways of working to meet the requirements of the future.
In effect, as an industry we are in a watershed phase, preparing and transforming ourselves for the next phase of growth and development. During this journey, ACMA has playing a pivotal role in supporting our membership across the highly complex yet integrated value chain, to overcome the present difficulties and emerge stronger to cater to the demands of an industry in transition - in terms of meeting its customer requirements, technology adoption, skilling its people and regulatory compliance, among others