Union Minister Piyush Goyal expressed confidence that India’s auto component sector will hit its $100 billion export target by 2030. At the 64th Annual ACMA Session in New Delhi, he urged the industry to focus on organic growth, global outreach, and technological advancements, leveraging India’s status as the third-largest auto market.
He emphasized the need for strong R&D and encouraged using the Rs 1 trillion Anusandhan National Research Foundation (ANRF) fund for public-private-academic partnerships. Goyal also urged the sector to explore opportunities in Electric Vehicles (EVs), bicycles, and use the government’s industrial smart cities initiative for growth and exports.
Highlighting ACMA’s role in Free Trade Agreement (FTA) negotiations, he stressed the importance of platforms like Bharat Mobility 2025 to showcase India’s automotive capabilities globally.