INVC,,
Delhi,,
the apex body representing India’s Auto Component manufacturing industry, announced the change of guards at the Association with Srivats Ram, Managing Director, Wheels India Ltd. taking over as the new President and Arvind Kapur, Managing Director, Rico Auto Industries Ltd. as its Vice President for the term 2010-11.
Announcing the new President and the Vice President for 2010-11, Vinnie Mehta, Executive Director, ACMA said, “We are pleased to have Srivats Ram on board as the ACMA President, an industry veteran, with vast exposure to the auto industry. We are also delighted to have Mr. Arvind Kapur as our Vice President, another valiant from our industry. Further, the new ACMA Executive Committee comprises some of the most eminent leaders from auto sector. We look ahead to their active engagement and involvement.”
Setting out the ACMA’s roadmap for the future, the new ACMA President, Srivats Ram said “It is a matter great pride to be the President of ACMA at a juncture when the industry is ramping-up in light of the unprecedented growth. Today, the automotive industry in India is faced with a new and changed paradigm. The auto component industry which grew at 20% last year is likely to continue to grow at this rate in the coming year. In light of the fact that the vehicle industry will witness double-digit growth in all segments over the next few years and the auto component industry is expected to scale to over USD 110 billion by 2020, our members need to relook and appropriately strategize their businesses. We also need to gear up to deal with the challenges in the external environment as in the availability of material, finance, power and manpower on one hand and the need to expand in an environment of trade agreements and our own lower margins on the other.
The newly elected ACMA Vice President, Arvind Kapur, said “I am grateful to the industry for reposing faith in me. For India to emerge globally competitive in the auto component manufacturing a stable policy regime is of utmost criticality. A robust and encouraging ecosystem covering all aspects of the industry will enable us emerge as a strong auto component manufacturing nation.”
