Despite the company having a clear philosophy of no one country accounting for more than 10 per cent of its total turnover for its 2025 plan, Motherson Sumi Systems Ltd (MSSL) believes that India presents clear opportunity for manufacturing and is looking to promote make in India.
Stressing on the need for reconsidering such a provision, ACMA President Deepak Jain said the Indian auto and component industry is a global one and the production not only caters to the domestic demand but also international markets.
The country's leading bearings maker, which reported a net profit of Rs 65.02 crore in September quarter of the current fiscal, 23.16 per cent lower over July-September 2019-20, also said that the festive season demand has been good (so far), particularly in the automotive segment.
Cummins India Vice-President (Engine and Component Business) Anjali Pandey said this new four-cylinder, 4.5-litre CEV BS IV-compliant engine system will further help Cummins enhance its presence in the construction segment while meeting stringent emissions standards and providing value to the customers.
"It will be difficult to predict the market. But as we went through the inventory levels, we definitely saw what we believe is filling of the pipeline. How it (the pandemic) changes the consumer perception of wanting personalized transportation versus using public transportation - that could be a little bit of an influence."
ACMA also announced that the 5th edition of its four-day international trade fair for the aftermarket and service industry, "Automechanika" will now be held at New Delhi's Pragati Maidan from April 22 next year in association with Messe Frankfurt India.
The capital will be used to set up the company's upcoming 150,000-unit annual capacity electric powertrain manufacturing plant, upgrading its existing manufacturing facility, for R&D and towards operational expenses, Rakesh Mishra, chief executive of Entuple told ET.
A market leader in batteries for auto OEMs, Exide Industries said that it was committed to building capabilities and expertise for lithium ion batteries for electric vehicles and storage and the pandemic had not thrown a spanner in the plans.