Mumbai, August 29, 2005: CNBC-TV18 together with Talbros Automotive Components Ltd. today presented ‘Auto Evolution 2005’ in Mumbai focusing on the topic - ‘Can Indian Auto Component Companies become integrated systems suppliers?’
Renowned experts and top names in the Auto Sector, as well as senior
government officials like Vidur Talwar, JMD, Talbros
Automotive Components Ltd., Rohan Pusalkar, ED, Indo-
Schottle, Dr. V Sumantran, ED, Tata Motors, Dr. Albert
Hieronimus, MD, MICO, TK Balaji, MD, Lucas-TVS & Delphi-TVS, Trilochan Singh Sahney, CMD, NRB Bearings and Hemant Luthra, Head, M-Sat (M&M's component business) participated in the ‘Auto Evolution 2005’ forum. The scope of Indian companies transforming themselves to truly global players, the role of the government in further accelerating this process and the possibility of specialized manufacturing in this sector was the focus of the discussion.
India’s reputation has grown drastically as a global manufacturing base in the auto component industry. The domestic industry is in the process of aggressive capacity expansion, primarily to cater to the export markets. The improvement in trade relations makes it an opportune time for the country to scale up the industry's fortunes to the next level.
However, a key challenge for Indian auto component manufacturers is to diversify their product base and in the process comprehensively cover the entire automotive manufacturing process.
‘Auto Evolution 2005’ assessed whether true integration is possible for the fragmented Indian market, or if specialized manufacturing can be the future of this sector. Some of the panelists opined that India was narrowing down to the needs of the country rather than becoming system integrated suppliers to the world at large. The panelists also believed that it was possible to achieve global standards by using what is locally available at a smaller - manageable scale and at a good cost.
According to Dr. Albert Hieronimus, “Since the Indian market has narrowed down its focus, it has now reached the world class level. Indians have the advantage of having a huge pool of talent and producing auto components at a lower cost and higher quality, thus achieving global standards.” Dr. V Sumantran however felt that the Indian Auto Industry compared to its counterparts abroad was still lagging behind in terms of cutting edge, cutting costs, and hence require to take this on as a challenge in order to attain truly global standards.
About CNBC-TV18:
CNBC-TVI8 is India's No.1 business medium. CNBC Asia Pacific holds a strategic equity stake in the Indian registered broadcaster; Television 18. CNBC-TV18 is the undisputed leader in the business. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across India. CNBC-TV18 is currently available in over 26 million households in India.
For further information contact:
Janice Goveas/ Lorraine Correa
Hanmer & Partners
56335969/ 55524600
