SIAM Annual Convention

The 65th SIAM Annual Convention highlighted India's automobile industry as a catalyst for innovation, sustainability, and economic growth

- Richa Tyagi

The 65th Annual Convention of the Society of Indian Automobile Manufacturers (SIAM), held recently, brought together industry stalwarts, policymakers, and global leaders to deliberate on the central role of the automobile sector in shaping Viksit Bharat by 2047. With the overarching theme of “Sustainable Mobility Paradigm for Viksit Bharat,” the event highlighted the transformative journey of India’s auto industry, from a domestic growth engine to a global leader in mobility solutions.

What emerged from the daylong deliberations was clear, India’s automobile industry is no longer confined to producing vehicles. It is driving economic growth, technological innovation, sustainability goals, and global integration. The sector has become not just a backbone of the economy but also a symbol of India’s aspirations to become a developed nation within the next two decades.

In his welcome address, Shailesh Chandra, President, SIAM and Managing Director, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd., highlighted the Indian automobile industry’s significant contribution to the economy. He noted that the sector, valued at Rs 20 lakh crore, contributes 15 per cent of India’s GST revenues, underscoring its role as a growth engine. Chandra also expressed appreciation to the government for the recent GST reduction, emphasising that this measure will make vehicles more accessible, particularly for first-time buyers.