India’s Auto Industry Poised for Exponential Growth as CII NexGen Mobility Expo 2024 Inaugurates in Pune

Pune, 18 October 2024: As India aims to be a developed country by 2047 and plans to achieve net zero by 2070, the quantum of growth and opportunities are huge. The Indian automotive industry is a beacon of opportunities, opined experts at the inauguration of the CII NexGen mobility expo 2024.

The second edition of CII NexGen Expo 2024 was inaugurated today at the Pune International Exhibition Center at Moshi. The three-day expo from 18th October to 20th October 2024, themed ‘Integrating Indian Mobility, features a comprehensive range of vehicles and technologies, from internal combustion engines (ICE) to electric, hybrid, hydrogen, CNG/LNG, and ethanol/biofuel powertrains. It also highlights the latest innovations in automobile components, electronics, and subsystems.

Arvind Goel Chairman, CII WR Taskforce on Future Mobility & Chairman, Tata AutoComp Systems Ltd., Akash Passey Co-Chairman, CII WR Taskforce on Future Mobility & President, India, ZF Group, Rajnikant Behera Co-Chair, CII NexGen Mobility Show 2024 & Executive Director, RSB Global, Nishant Arya Vice Chairman & Managing Director JBM Group, Dr Reji Mathai Director Automotive Research Association of India (ARAI), Rishi Kumar Bagla Deputy Chairman, CII Western Region 2024-25 and Chairman & Managing Director BG Li-In Electricals Ltd, Swati Salgaocar Chairperson, CII Western Region 2024-25 and President, V. M. Salgaocar & Brother Pvt Ltd, Prashant Nayak Co-Chair, CII NexGen Mobility Show 2024 & Managing Director, Yazaki India Pvt Ltd were present at the inauguration.

Arvind Goel, Chairman, CII WR Taskforce on Future Mobility, and Chairman, Tata AutoComp Systems Ltd., said that the auto industry currently is about 80 billion dollars in India with 15 billion dollars in exports. It is expected to grow more than three times to 250 billion dollars in the next few years. With the auto industry growing, employment will also grow. He added that as India plans to achieve net carbon zero by 2070, many companies have targets to achieve it much before that. A huge amount will be invested by companies to take India to net carbon zero. With the abundance of renewable energy, the industry will move more quickly in the EV space. The auto industry will have a major role to play in the quantum of growth and opportunities as India aims to be a developed country by 2047.

Swati Salgaocar, Chairperson, CII Western Region 2024-25, said
“Mobility is the backbone of economic life, connecting people to jobs, communities, and opportunities. Yet, urban mobility faces challenges like congestion, pollution, and uneven access. Future mobility must be sustainable, integrated, and automated. Trends like EVs, shared mobility, and autonomy are transforming cities globally. India is at a crucial stage of urbanization, and decision-makers must act now.
CII Western Region is leading the way with the NexGen Mobility Show, driving the future of clean, efficient, and innovative transportation solutions.”

Rishi Kumar Bagla, Deputy Chairman, CII Western Region 2024-25, said that the auto industry has historically been a good indicator of how the economy is doing. The country’s automotive component sector has seen steady growth in exports over the past decade, driven by skill development, adherence to global standards, and government support with the Make in India initiative.
India has a few automotive hubs, and the western region is the flag bearer of the Indian automotive industry. India ranks among the top auto component suppliers in the world. If we continue to grow by 7 to 8 percent till 2047, the requirement will be eight times of the current consumption, and therefore the opportunities are huge.

Akash Passey, Co-Chairman, CII WR Taskforce on Future Mobility & President, India, ZF Group, said that India is rapidly becoming a global automotive powerhouse. Our task force on mobility at CII is working on challenges and opportunities and developing strategies to ensure sustainable and inclusive growth. Technologies like ADAS and innovations will play a pivotal role. The future of mobility hinges on our ability to create a safe, sustainable, and technologically advanced automotive system. Therefore, there are new opportunities coming in and a new dimension showing up in the coming years. India can position itself as a global leader in the global automobile industry.

Rajnikant Behera, Co-Chair, CII NexGen Mobility Show 2024, said that auto is a key driver in economic growth. We are also on the cusp of a significant transition of technology from ICE to EVs. We want the entire industry to come together and have a dialogue in one space, which is the main aim of this expo.

Nishant Arya, Vice Chairman and Managing Director, JBM Group, said
When the norms are global, the opportunities are global. With the scale and size, we are looking to address. Indian companies can use this opportunity to grow multifold.

Reji Mathai, Director, the Automotive Research Association of India (ARAI), said that it is time to look ahead and address India-specific needs. Our focus can be summed into two parts: one is net zero, and the other is the safety of the cars, two-wheelers, and pedestrians. At ARAI, we have been on this journey, not only developing a regulatory framework but also helping to develop capabilities. These steps can take the ecosystem forward to become more safe and sustainable.

Prashant Nayak, Co-Chair, CII NexGen Mobility Show 2024, and Managing Director, Yazaki India gave the concluding remarks.