The Society of Indian Automobile Manufacturers (SIAM), the Bangladesh Automobiles Assemblers and Manufacturers Association (BAAMA), the Ceylon Motor Traders’ Association, Sri Lanka (CMTA), and the NADA Automobiles Association of Nepal (NADA) came together to establish the South Asian Automobile Forum.
The Society of Indian Automobile Manufacturers (SIAM) stands as the primary national organization representing major vehicle and engine manufacturers in India. It operates as a registered society under the Societies Registration Act 1860, with charitable aims. SIAM’s core goals encompass enhancing the automobile industry’s contribution to India’s economic growth.
SIAM aids the industry in fulfilling its social responsibilities, promotes industry efficiency, particularly within India, and advances environmental protection, including addressing global warming, pollution control, and ensuring the safety of vehicle users and the public. Acknowledging South Asian Automobile Forum’s objectives, SIAM has obtained registration under the Income Tax Act 1961 as a charitable institution.
South Asian Automobile Forum is dedicated to fostering collaboration and cooperation among the automobile sectors in South Asia. South Asian Automobile Forum provides a platform for association members to engage in regular dialogues, exchange best practices, and collectively work towards enhancing the automotive industry in the region.
Upon the inception of this forum, Vinod Aggarwal, President of SIAM and Managing Director & CEO of VE Commercial Vehicles Ltd (VECV), remarked, “The automotive sector is a key player in the economic progress of South Asian nations, offering immense opportunities for synergy and shared advancement through enhanced collaboration. The establishment of this forum will deepen the existing cooperation among the automobile industries of Bangladesh, Nepal, Sri Lanka, and India.”
Rakesh Sharma, Chairman of SIAM Exports Group and Executive Director, Bajaj Auto added, “The forum will provide a valuable opportunity for members of each of the associations to address shared challenges and explore opportunities for collective growth, while promoting adoption of best practices and responsible advancement of the automobile sector in the South Asian Region.”