New Delhi, November 26, 2021: The Society of Indian Automobile Manufacturers (SIAM), the apex automotive industry body, organized the 18^th lecture on ‘Future of Automotive Aftermarket Parts in India’.

Focusing on ‘Vocal for Local’ and ‘Curb Counterfeit for Safer Mobility’

Considering National priorities on Atmanirbharta, Digitalization, and making of Quality and safer products for customers, SIAM focusses on aftermarket products and services to bring about a 360 degrees evaluation of needs, challenges, and possibilities around the following aspects:

·         Quintessential Quality,

·         Curb Counterfeit,

·         Vocal for Local,

·         Simplify Supply-Chain,

·         Amplify Access, 

·         Evaluate E-Commerce

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Basis the above-mentioned pillars, two important aspects i.e. vocal for local and curbing counterfeit have been identified for deliberation. The lecture was graced by key industry players, industry members, market research bodies, and distinguished representatives from the media.

The lecture comprised of two sessions, the first being ‘Vocal for Local’with the theme ‘Leveraging Aftermarket and Auto Component PLI’ with theme presentation by Mr. Saurabh Agarwal, Partner, E&Y. The session panel discussion was moderated by Mr. Yashpal Sachar, Chairman, SIAM Aftermarket Parts Group & General Manager, Honda Cars India and featured eminent speakers, Mr. Ramashankar Pandey, Chair, ACMA after Market Committee & MD, Hella India Lighting; Mr. Mustafa Wajid, E-mobility and Charging Infrastructure, IEEMA; Mr. Saurabh Kapoor, Managing Director, JSG Innotech. Mr. Prashant K Banerjee, Executive Director, SIAM hosted the 1^st Session.

Localization in the context of aftermarket opportunities and challenges including ease of business were some of the fresh perspectives discussed in the session.

The 2nd session delved on safer mobility and challenges around counterfeiting from a fresh perspective of deploying new-age technology, themed upon ‘Adopting New Age Technologies like IoT, AI & ML.’ with theme presentation by Mr. Tanmay Jaswal, Founder & CEO, Chkfake followed by a panel discussion of experts, such as Mr. Pankaj Monga, Partner & Practice Head, Brand Protection, Lall & Sethi; Mr. Shaleen Agarwal, Founder & CEO, Garaaz; Mr. Anubhav Amarnath, Founder & CEO, EngineCAL Technology; Mr. Thomas Weiss, Founder & CEO, Authentic Vision. Mr. Arpit Mahendra, Editor, Express Drives & Express Mobility, The Financial Express – Digital moderated the Panel discussion. The Session was hosted by Mr. Anup Mohnani, Co-Chair, SIAM Aftermarket Parts Group, and Head (Parts Division, Stellantis).

Speaking about the lecture, Mr. Prashant K Banerjee, Executive Director, SIAM said, “Aftermarket issues are often less discussed despite knowing the fact that customer satisfaction viewpoint, safer, affordable & quality products and services are of paramount importance. In order to deliberate customer-centric aftermarket issues, involving all stakeholders, SIAM intends to provide a discussion platform wherein opportunities and challenges in the aftermarket sector to bring safer and delightful mobility experience to the society and masses at large”.

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To make this journey forward, SIAM would continue to engage with the stakeholders bringing aftermarket issues and solutions to the forefront with mobility evolving as a service.

About SIAM:

The Society of Indian Automobile Manufacturers (SIAM) is a not-for-profit apex national body representing all major vehicle and vehicular engine manufacturers in India. SIAM works towards supporting the sustainable development of the Indian Automobile Industry with the vision that India emerges as the destination of choice in the world for the design and manufacture of automobiles. It also works towards facilitating the enhancement of the competitiveness of the Indian Automobile Industry, reducing the cost of vehicles, increasing productivity, and achieving global standards of quality.

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