Auto Ancillaries Ensure Cleaner Air to Breathe
The reforms that the former Prime Minister, Dr. Manmohan Singh mooted in 1991 when was the Finance Minister turned out to be a boon for the Indian economy.
The resultant LPG (liberalisation-privatisation-globalisation) opened up the floodgates for automobile majors from across the globe to make their presence felt in India.
Simultaneously, the already established auto ancillary industry too geared up to cater to the needs of dozens of newly set up vehicle manufacturers across the country.
These Indian companies rose to the occasion in designing and developing assorted parts for the varied makes and models of vehicles in the segments of passenger cars and SUVs as well as trucks or buses.
To cite an instance, one such Delhi NCR-based company happened to be among the leading sheet metal components manufacturers in the country.
Indeed, the decades-long expertise in fabrication of parts from sheet metals stood good for it in meeting the new challenges on a successful note.
In no time, this company became a prominent OEM and also a supplier in the replacement market and expanded its manufacturing base with additional units for diversified products at Faridabad, New Delhi, Haridwar and Manesar.
Today, it has carved out a niche among the highly rated exhaust system components manufacturers by producing quality products for all types of vehicles.
Thus one can opine that this company of the Victora conglomerate engaged in exhaust pipes has been playing a crucial role to ensure that people breathe cleaner air.
Yes, such pipes in vehicles and other polluting engines or machinery like generators etc. regulate the emissions of carbon monoxide, nitrogen oxide and other toxic gases.
On this score, it is well-known how agencies like the Central and State Pollution Control Boards and also the NGT (National Green Tribunal) had voiced concern over the declining quality in the air that we breathe.
Of course, the NGT’s ruling on the plying of vehicles that are over 10 to 15 years old has invited mixed reaction from the cross-section of nationwide citizens. It is also an accepted fact that a well-maintained engine in a vehicle ensures lesser emission of exhaust gases.
Despite all these odds and trends, the Indian auto components industry has experienced healthy sequential growth over the last one-and-a-half years.
This growth can be attributed to factors such as strong buoyancy in the end-user industry, recovery of the global economy, improved consumer sentiment and return of adequate liquidity in the financial system.
The industry currently accounts for almost seven per cent of India’s gross domestic product (GDP) and employs about 19 million people, both directly and indirectly.
The ever-increasing development in infrastructure, big domestic market, increasing purchasing power and stable government framework have made India a favourable destination for investment, as per the vision of Automotive Mission Plan (AMP) 2006–2016.
According to the Automotive Component Manufacturers Association of India (ACMA), the industry in the country is expected to register a turnover of US$ 66 billion by 2015-16 with the likelihood to touch US$ 115 billion by FY 2020-21 depending on favourable conditions.
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