Quote of Mandar Athlekar, Head – Global Trade Management, South Asia at Thomson Reuters on auto sector from the sidelines of SIAM event for your reference and kind consideration.
Mandar Athlekar, Head – Global Trade Management, South Asia at Thomson Reuters said, “Indian Automobile industry abounds with investment opportunities due to growing demands and favourable initiatives like ‘Make in India’. The National Goods and Services Act, an indirect tax reform that eliminates the cascading effect of multiple taxes, further enhances the conduciveness of the industrial environment for investments in automobile sector. A large number of global automobile manufacturing companies have been increasing their investments in India. They plan to leverage India’s competitive advantage as a market and multi-cluster manufacturing hub to meet domestic as well as international demand. With best-in-class technology and incentives promised by the government, they plan to set up export-oriented production hubs to cater to this growing demand. However, while government policy initiatives are aimed at boosting manufacturing and exports, various regulatory changes over the past years, infrastructural constraints and price volatility pose some significant challenges and risks to growth plans. A comprehensive enterprise information management solution on a secured technology with specialized features on automation, integration, regulatory content management and compliance will strengthen the capabilities of Indian Automobile industry for mitigating and managing the risks in the global supply chains, paving the way for its global leadership.”