- He added that the country”s auto ancillaries industry should also look to expand its export basket and achieve at least five per cent of global components trade by 2026
- Narendran said the government has also set its sights on making India more environment-friendly and is slowly phasing out petrol- and diesel-based vehicles
India needs to create capabilities in semiconductors since it is going to become more critical as electric mobility gains momentum in the country, CII President T V Narendran said. He added that the country”s auto ancillaries industry should also look to expand its export basket and achieve at least five per cent of global components trade by 2026.
Narendran, who is also CEO and managing director of Tata Steel Ltd said that with the growing adoption of electric mobility, semiconductors are going to become more and more critical. He added that as important as an ecosystem, as a country, as an industry, collectively or individually, to invest in creating these capabilities in India. He added that this is going to take time.It is going to take support from the government. It is capital-intensive and it is a significant business.
Narendran said the government has also set its sights on making India more environment-friendly and is slowly phasing out petrol- and diesel-based vehicles. He added that the very nature of the industry has also transformed during this period, and technology-centric features, safety, comfort emissions and energy consumption have taken centre stage in recent times.
India must emphasise on targeted export expansion of key components and expand the share in the global auto components trade to at least 4-5 per cent by 2026.
