Jumpstarting Indian Automotive Sector

Organised by Grant Thornton, the webinar on jumpstarting the Indian automotive sector had experts deliberate on challenges and opportunities coming the industry’s way.

- Deepti Thore

Grant Thornton recently organised a webinar on ‘Jumpstarting the Indian Automotive Sector’. With industry experts in attendance, the moderator set the tone by giving a backdrop of the slump in the sector recorded in 2019. According to the moderator Saket Mehra, Partner & Automotive sector leader, Grant Thornton India, the pandemic, set aside any growth prospects that the industry was looking forward to in 2020, in turn, said to have dashed all hopes of a recovery. “Nothing is more expensive than a missed opportunity hence the auto industry needs to remain optimistic and look forward to opportunities across all the domains within the industry,” he averred. To help the industry emerge stronger out of the crisis and get back on its feet, the distinguished panel on the webinar spoke of priority focus areas if the industry were to overcome converging pressures. From demand slowdown, unutilised capacity and regulatory challenges. Key highlights of the session centred on establishing a good base, setting digitisation in motion, looking at automation and upskilling. Used car market segment, aftermarket and scrappage policy also found a mention. The session also deliberated upon means to deliver money, manage risks and ways to strengthen communication across all verticals.

Growth projections