Politics · India Bureau
Hyundai India chief urges policy push for advanced auto tech exports
Hyundai Motor India's leadership has called for a consistent long-term policy framework to support the country's transition from exporting conventional auto components to advanced technologies and engineering capabilities.
LSN India ·
Tarun Garg, Managing Director and CEO of Hyundai Motor India, on Wednesday urged policymakers to establish a stable regulatory environment that would enable Indian automakers and component suppliers to scale up operations and accelerate technology development.
Addressing the 66th Annual Session of the Automotive Component Manufacturers Association of India (ACMA), Garg emphasized the need for India to build domestic expertise in critical sectors including semiconductor chips, electric vehicle battery cells and power electronics. He stressed that sustained government support through long-term policy initiatives would be essential to achieving these objectives.
"The time has come for India to progress beyond conventional component exports and establish itself as a hub for advanced technologies, engineering capability and innovation," Garg said at the industry gathering.
India's automotive component sector currently exports approximately USD 24 billion in goods annually, according to industry data. However, Garg's remarks underscore growing recognition within the sector that upgrading to higher-value manufacturing and technology exports could significantly enhance India's competitive position in global automotive supply chains.
The comments reflect broader industry concerns about policy consistency and long-term visibility required for major investment decisions in emerging technologies that will shape the automotive sector in coming decades.