Minister Kumaraswamy Hails Reforms at ACMA Annual Session

Union Minister H.D. Kumaraswamy honored the 64th ACMA Session, lauding PM Modi's reforms and the Atmanirbhar Bharat initiative for boosting the auto component sector. Highlighting a USD 300 million trade surplus, he discussed major PLI schemes and the upcoming FAME III to advance India's self-reliance and competitiveness.

Union Minister H.D. Kumaraswamy addressed the 64th Annual Session of the Automotive Component Manufacturers Association (ACMA) in Delhi on Monday, focusing on 'Viksit Bharat: Fostering Self-reliance & Global Competitiveness in Mobility Components.'

The session attracted key industry figures such as Shradha Suri Marwah, ACMA President; Vinod Aggarwal, SIAM President; Sanjiv Puri, CII President & ITC Managing Director; Hisashi Takeuchi, Maruti Suzuki India's MD & CEO; and SCALE Chairman Pawan Goenka.

Minister Kumaraswamy commended PM Narendra Modi's reforms, particularly the Atmanirbhar Bharat initiative, for transforming the auto component sector, contributing 2.7% to the GDP, and creating jobs for over 5 million people. The sector has achieved a USD 300 million trade surplus this year through increased localization efforts. He emphasized the impact of PLI Auto, PLI ACC, FAME-II, and EMPS schemes in realizing PM Modi's vision of Atmanirbhar Bharat and Viksit Bharat 2047.

The Minister also discussed the success of the Production Linked Incentive (PLI) Scheme, which has attracted Rs 74,850 crore in investments and generated over 30,000 jobs. He highlighted the PLI Scheme for Advanced Battery Cells aimed at 50 GWh manufacturing capacity and praised the FAME-II and newly launched Electric Mobility Promotion Scheme (EMPS) for boosting electric vehicle adoption.

Furthermore, Kumaraswamy stressed the significance of technology innovation platforms in achieving the Atmanirbhar Bharat vision through enhanced innovation and collaboration. He announced the upcoming FAME III Scheme and an extension of the EMPS scheme for two more months to address any issues within FAME II.

(With inputs from agencies.)