The CII and EY Knowledge Paper was released on 6th February 2016 at the International Conference on Modern Manufacturing Technologies for the Automotive sector.
The Indian automotive sector, given its potential contribution to GDP and employment, presents a significant opportunity to be one of the biggest growth drivers for the economy. The country’s key strengths such as a large domestic consumption base, a cost competitive value chain (that includes low design, testing and validation costs, frugal engineering capabilities and low labor costs) and strategic geographical location would go a long way in developing the country as a world class automotive manufacturing base. The paper says that there is a need for concerted effort from the Government and the Automotive industry to create an enabling ecosystem. Some of the key considerations for the Government and the Industry that the report presents are:
Enabling regulatory environment
Developing talent and skills
Fast-tracking infrastructure development
Incubating R&D and innovation
Enhancing supply chain competitiveness