The 52nd Annual Session & National Conference of ACMA (Automotive Component Manufacturers Association) was held in New Delhi on September 5, 2012. The conference theme, 'Auto Component Industry - Ready for the Transition', was focused on the need for looking beyond conventional manufacturing. It centred attention on diversifying into adjacent industries as well as on innovation and R&D to jettison forward and emerge as one of the leading automotive manufacturing and product development hubs of the world.

After inaugurating the annual session, Union Minister of Heavy Industries & Public Enterprises, Government of India, Praful Patel said, "As per the 12th Five Year Plan, the ministry is reviewing targets set up under the Automotive Mission Plan 2006-16. The extrapolations that have been drawn clearly indicate that the output of the automobile and auto component industry would reach USD 145 billion by 2016, accounting for more than ten per cent of the country's GDP and in turn generate employment for more than a million people."

The auto component industry in India has witnessed robust growth over the last five years at 15 per cent CAGR; it is at the point of inflection and must scale-up to get into the next orbit of growth and relevance. Patel further suggested that to be globally competitive it is essential for the Indian auto component industry to move up the value chain and to innovate and invest in product and process improvement through meaningful R&D.

Delivering the inaugural address, Arvind Kapur, President - ACMA, and Managing Director, Rico Auto Industries Ltd said, "There is a symbiotic connect between the growth of automobile and auto component industry and the economy. The Indian economy is experiencing not just an ordinary slowdown but a sharp downturn in investment cycle, domestic policy paralysis and uncertain trade environment. However, one must not forget that underpenetrated markets and the unfulfilled mobility aspiration of the people of India are the silver lining that gives us the confidence of a steady growth trajectory."

To be truly globally competitive, Kapur said, "Our relationship with our customers must transcend from being transactional to a mutually beneficial one. Neither build-to-print nor operational excellence is enough to be globally competitive. We have to partner with the OEMs in design, development and testing and build affordable, innovative solutions."