60th SIAM Annual Convention

To build an effective and efficient auto industry, the 60th SIAM Annual Convention voted in favour of an inclusive approach.

- Deepti Thore and Deven Lad

Held close on the heels of the automotive industry gearing for the festive season and emerging stronger from the pandemic induced hardships, the 60th SIAM Annual Convention was all for an inclusive approach and a united effort. Vehicle sales were down by 75.49 per cent to 14,91,216 units in the April-June (Q12021) with Q2 showing green shoots. In comparison to sales, production declined by 79.39 per cent to 14,86,594 units in the same quarter. Exports, on the whole, declined by 63.49 per cent to 4,36,628 vehicles. With this perspective, admitting to the worse slowdown in two decades, averred Rajan Wadhera, Past President, SIAM and Senior Advisor, Mahindra & Mahindra, “Even with the supply disruptions and domestic lockdown in 2020, the Indian automobile industry is hopeful of demand recovery.”

Demand and supply bottlenecks

Uday Kotak, President at Confederation of Indian Industry (CII) and Managing Director and Chief Executive Officer, Kotak Mahindra Bank linked the growth in infrastructure to the industry’s growth. To drive the sectoral recovery, he advocated for strong investments by the government in road infrastructure. Quipping that the past months were a “never-normal” phenomenon, he lauded the leadership demonstrated by Original Equipment Manufacturers(OEM) to address the supply-side issues and in turn open the door to new opportunities. He emphasised upon the need to iron out the creases on the supply-side ahead of complete demand recovery, calling out the government to ensure better coordination between the centre and the states.