{"id":27215,"date":"2024-12-07T08:57:55","date_gmt":"2024-12-07T03:27:55","guid":{"rendered":"https:\/\/urbanacres.in\/?p=27215"},"modified":"2024-12-07T08:57:55","modified_gmt":"2024-12-07T03:27:55","slug":"27215-2","status":"publish","type":"post","link":"https:\/\/livzzy.in\/?p=27215","title":{"rendered":"SIAM Automotive Conclave 2024 Drives Focus on Resilient Supply Chains"},"content":{"rendered":"<p><strong>The Society of Indian Automobile Manufacturers (SIAM) hosted the Automotive Sourcing Conclave 2024 under the theme \u201cTowards Building a Resilient Supply Chain.\u201d The event underscored the importance of fostering sustainable, innovative, and efficient supply chains to support the automotive industry&#8217;s growth and align with India\u2019s Aatmanirbhar Bharat mission.<\/strong><\/p>\n<p>The conclave attracted key stakeholders, including senior government officials, automotive industry leaders, and supply chain experts, who shared strategies for strengthening India\u2019s automotive supply chains to meet global competitiveness and sustainability standards. Dr. Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, highlighted the sector&#8217;s pivotal role in India\u2019s economic growth. He remarked, \u201cThe automotive industry is a key driver of India\u2019s economy, and Aatmanirbhar Bharat is our collective mission. With initiatives like PM eDRIVE, we are boosting local production and R&amp;D, reducing import dependency, and fortifying supply chains.\u201d He added that significant progress has been made under localisation schemes, with \u20b918,000 crore invested as of March 2024, and plans to revise the components list for local manufacturing under the FAME initiatives.<\/p>\n<p>Complementing these efforts, Vimal Anand, Joint Secretary, Department of Commerce, stressed the role of MSMEs and Tier 2 and Tier 3 vendors in building robust domestic manufacturing capabilities. \u201cThe automobile industry is a cornerstone of India\u2019s GDP. Increasing localisation content requires home-grown companies to innovate and develop cutting-edge technologies. The government remains committed to addressing concerns across supply chains and adapting to new regulatory needs,\u201d he stated. The discussions also focused on integrating sustainability into supply chain practices, from sourcing raw materials to ensuring eco-friendly production processes. Panellists emphasised the role of digital transformation in enhancing operational efficiency and fostering innovation.<\/p>\n<p>The conclave is a significant step in aligning India\u2019s automotive industry with global standards while ensuring resilience against external disruptions. The government\u2019s active support, combined with industry collaboration, is expected to propel the sector toward achieving greater localisation, sustainability, and innovation. As the automotive sector evolves, events like the SIAM Conclave underline its commitment to adapting to emerging trends and challenges while driving India\u2019s economic and technological ambitions forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Society of Indian Automobile Manufacturers (SIAM) hosted the Automotive Sourcing Conclave 2024 under the theme \u201cTowards Building a Resilient Supply Chain.\u201d The event underscored<\/p>\n","protected":false},"author":1,"featured_media":27216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[149,146,156,147,148],"tags":[3010,3011,3012,3013,3014,3015],"class_list":["post-27215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","category-latest","category-mobility","category-news","category-urban-news","tag-aatmanirbhar-bharat","tag-automotive-industry-india","tag-fame-schemes","tag-local-manufacturing","tag-resilient-supply-chains","tag-siam-automotive-conclave-2024"],"_links":{"self":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts\/27215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27215"}],"version-history":[{"count":0,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts\/27215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/media\/27216"}],"wp:attachment":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}