Confederation of Indian Industry (CII) president T V Narendran lately mentioned that India needs to create capabilities in semiconductors since it’s going to turn out to be extra essential as electric mobility good points momentum within the nation. To this, he added that the nation’s auto ancillaries business also needs to look to develop its export listing and push to obtain a minimum of 5 per cent of worldwide parts commerce by 2026, a PTI report said.
Speaking on the 61st annual session of the Automotive Component Manufacturers Association of India (ACMA), the physique’s president conveyed that semiconductors are going to play an important function within the electric future. “With the rising adoption of electric mobility, semiconductors are going to turn out to be increasingly more essential. It’s necessary for us as an ecosystem, as a rustic, as an business, collectively or individually, to spend money on creating these capabilities in India,” said Narendran, who is also the CEO and managing director of Tata Steel Ltd. However, he did mention that it will take some time to create this collective ecosystem. He also added that since it is capital-intensive development and significant business, it will need the government’s support.
As the semiconductor shortage intensifies around the globe, Indian automaker majors such as Maruti Suzuki India, Tata Motors and Mahindra & Mahindra have also been badly hit due to the crisis. Many have also mentioned the semiconductor shortage might not get resolved until next year. Narendran also shared that the government is also aiming to make India more environment-friendly with its efforts to slowly phase out petrol- and diesel-based vehicles.
The president also mentioned that this period has changed the very nature of the industry. “The very nature of the industry has also transformed during this period, and technology-centric features, safety, comfort emissions and energy consumption have taken centre stage in recent times,” he added.
Exhorting the nation’s automotive business to improve localisation efforts all through the provision chain, Narendran mentioned, “India should emphasise on the focused export enlargement of key parts and develop the share within the international auto parts commerce to a minimum of 4 to 5 p.c by 2026.” News Chant