SIAM discusses Changing Dynamics in the Global Automotive Trade Policies

SIAM discusses Changing Dynamics in the Global Automotive Trade Policies

Greater Noida: Society of Indian Automobile Manufacturers (SIAM), today organized the Auto Trade Dialogue and discussed emerging policies and trends in the global automotive industry. The event witnessed distinguished policy makers from the Ministry of Commerce & Industry, the Ministry of Heavy Industries, the Government of India and the Indian Auto Industry along with the experts across various regions including from Bangladesh, Europe, Germany, Japan, Nepal, Sri Lanka, Africa and the United Kingdom.

Greater Noida, 14th January 2023: Society of Indian Automobile Manufacturers (SIAM), today organized the Auto Trade Dialogue and discussed emerging policies and trends in the global automotive industry. The deliberations highlighted that with dynamically changing automotive policy ecosystem, cooperation among the countries is of utmost importance in furthering the Auto Trade.

Mr. Rahul Bharti, Chairman, SIAM International Relations & Trade Policy Group and Executive Director, Maruti Suzuki India, said, “The Auto sector has seen a paradigm shift with the introduction of electric, hydrogen-based fuels and biofuels. Decarbonisation is our responsibility and even the government is participating in the transition by introducing subsidies.

Mr Vinod Aggarwal, President, SIAM and MD & CEO, VECV, said, Auto trade policies have received desirable focus in the past years. As India becomes an important player in the global Auto Industry, we aspire to be one of the leading economies with a strong export footprint.”

Mr Cedrick Crowley, Deputy High Commissioner, High Commission of South Africa, said, Trade will be the vehicle to cement the relationship between India and South Africa.”

Dr Hanif Qureshi, Joint Secretary, Ministry of Heavy Industries, Government of India, said, “With auto industry’s turnover of $123 Billion, India is one of the largest markets globally. We hope to strengthen our relationship with Governments, manufacturers & consumers, and build an ecosystem where the sector can thrive.”

Dr Srikar Reddy, Joint Secretary, Ministry of Commerce and Industry, Government of India, said, “With the ambitious target of reaching $1 trillion total trade exports by 2030, we look forward to the Indian auto Sector to contribute $100 billion in exports by the year 2030.”

The session was also graced by Ms. Anna Shotbolt, Deputy Trade Commissioner, British High Commission Indian and Ms Nathalie Gminder, First Secretary, German Embassy.

Several distinguished speakers from around the world discussed Policy Initiatives for the Auto Sector’s Developments, Emerging Mobility Scenarios, and showcased learning and experiences of their respective countries.

The session on ‘Policy Initiatives for the Auto Sector’, was moderated by Mr Bhagwan K Bindiganavile, Senior Vice President, Strategy Brand & Communications, VE Commercial Vehicles with speakers from Sri Lanka, Bangladesh and Nepal, wherein development of E-mobility and the need to strengthen manufacturing capabilities was discussed.

The session on ‘Changing Dynamics in Global Automotive Policies and Trade’, moderated by Mr Rahul Bharti, Chairman, SIAM International Relations & Trade Policy Group and Executive Director, Maruti Suzuki India, where Mr Mike Hawes, Chief Executive, Society of Motor Manufacturers and Traders (SMMT) - United Kingdom, Mr Jonathan O'riordan, Trade Director, European Automobile Manufacturers’ Association (ACEA), Europe, Mr Takao Aiba, Chair, International Policy Expert Group, Japan Automobile Manufacturers Association (JAMA), Ms Angela Mans, Head of Foreign Trade and International Relations, Verband Der Automobilindustrie e.V. (VDA), Germany, Mr David Coffey, CEO, African Association of Automotive Manufacturers – Africa, Mr Bipin Menon, Development Commissioner, Noida Special Economic Zone, Department of Commerce, Dr Biswajit Nag, Professor, Indian Institute of Foreign Trade discussed the various facets of Trade, Technology, Climate Change, Supply Chain and Rules of Origin.

Mr. Sachin Arolkar, Co-Chairman, SIAM International Relations & Trade Policy Group and Head International Operations, Mahindra & Mahindra Ltd., concluded the conclave by highlighting the complexities of trade in the recent years along with Geo-political implications which is challenging for the business, but all the regions committed to work closely in making the Global Auto trade more robust.