Indian auto sector registers steady growth: Prasan Firodia
The two-year-old NDA regime is extremely positive with its various pro-active policies and strategies adopted by Prime Minister Narendra Modi. Also, its ‘Make in India’ initiative has become a reality with growing awareness of the products locally manufactured.
The automobile industry has attracted foreign direct investment (FDI) worth $15.06 billion during April 2000-March 2016, according to data released by the Department of Industrial Policy and Promotion (DIPP). In spite of a downturn in the world market, India has managed a moderate increase (of about two per cent) in the number of vehicles produced and exports of auto components. The extremely competitive automotive industry has registered a steady growth over the past few years despite complexities arising out of an increasing number of products and variants, shorter technology cycles and increasing pressure to innovate the global benchmarks.
Overall the auto sector has registered a steady growth. However, the industry has to face new challenges in view of the proposed enforcement of GST, the recent demonetization, the migrating into Euro-VI norms by 2020, etc.
These points were highlighted by Mr. Prasan Firodia, President, Aluminium Casters’ Association of India (ALUCAST), and Managing Director, Jaya Hind Industries and Force Motors, while delivering his presidential address at the inaugural of Alucast 2016 held in Bangalore.
Referring to the use of aluminium die casting, Mr. Firodia said that 60 per cent of die casting produced at the global level is consumed by the auto sector. In order to make lightweight die casting products, which guarantee greater fuel efficiency, a lot of research activities are conducted all over the world. Mr. Firodia was also confident that India will soon become an ideal destination for the global aluminium die casting industry.
Mr. Ajay Nair, Partner, Business Advisory Services, Ernst & Young LLP, made a detailed presentation on the current Indian automotive scenario and its future prospects.
In his inaugural address, Mr. Milind Doiphode, Divisional Manager, Mercedes-Benz India Pvt. Ltd., gave an overview of the success story of Mercedes Benz in India and its focus towards usage of aluminium die casting products.
Earlier, in his welcome address, Mr. T. Parabrahman, Trustee, Alucast, said the event organised by the Aluminium Casters’ Association of India with the support of Nürnberg Messe, had a 40 per cent increase in space, a 30 per cent rise in terms of exhibitors and 60 per cent footfall increase expected. As a truly global event, it attracted 92 companies from India and 32 from overseas. The inaugural function also witnessed the release of technical directories as well as the presentation of Best Foundry Awards to various categories. On this special occasion Mr. Prasan Firodia honoured Mr. R.A.R. Prasad, Advisor (Technical), Alucast, with a special memento for his distinguished contribution to the aluminium die casting industry.