Sustenance Is Key

AT THE 61ST ACMA ANNUAL CONCLAVE, THE INDUSTRY HINTED AT SUSTENANCE AS THE KEY FOR SEEING THROUGH THE VOLATILE PHASE. TEAM CV LOOKS AT THE EFFORTS IN THIS DIRECTION.

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The 61st ACMA Annual Conclave held a day after the SIAM annual conclave took forward the key points of interest and concern from the previous day. These were used to build upon and incorporate inputs of the components industry. Citing Prime Minister Narendra Modi’s acknowledgement of the industry as a whole contributing to the Indian economy, the industry expressed gratitude for the recent government interventions and for its praises.

The industry, it is well known, came forward to lend a helping hand to the government in the course of the pandemic through several out-of-the-box initiatives. The pandemic also laid the foundation for accelerated changes in technology and services as a solution. The recent government interventions like the scrappage policy and Production Linked Incentive (PLI) scheme for the auto and the auto components industry have played the role of a catalyst. It has helped the industry reassess strategy across phases of survival, revival and growth. Sunjay Kapur, President, Auto Component Manufacturer Association (ACMA) mentioned “As it’s said, in a time of crisis, the medal of brave is tested and true character is revealed. I am extremely proud of our industry and the way we have supported each other to overcome the challenges”.