The Managing Director and Group CEO of Sona Comstar, Vivek Vikram Singh, provides insights into the Indian auto component industry’s potential. He discussed the industry’s current position and the transformative changes needed to achieve ambitious growth targets.
Singh began by addressing a personal loss, highlighting the responsibilities that continue despite personal grief. He conveyed the importance of moving forward and fulfilling existing commitments.
Sona Comstar’s evolution from a gear manufacturer to a systems provider was a key topic. The company’s growth from gears to advanced systems, including driveline systems, motors, and sensors, showcases a commitment to innovation and adaptation. Singh highlighted the company’s continuous focus on the needs of its customers, employees, and shareholders.
Singh emphasized the shift towards component manufacturers becoming system partners for automakers. This transformation is driven by the need for automakers to become more agile and efficient, enabling them to focus on core competencies such as design, innovation, and sales.
The discussion also touched on the concept of Tier 0.5 suppliers, with Singh suggesting that achieving this level of integration, where suppliers build entire cars, is still a distant goal.
Regarding the $100 billion target, Singh views it as a significant ambition. He emphasized the need for research, innovation, engineering, and a robust ecosystem to support this growth. Singh believes this ambitious goal requires significant effort and a strategic vision, but is achievable.