At the recent GDCTECH 2023 International Conference and Exhibition held at Chennai Trade Centre, Srinivasan Ravi, Chairman & Managing Director of Craftsman Automation, delivered a keynote address that offered a fresh perspective on the Electric Vehicle (EV) market in India. Contrary to popular belief, Srinivasan Ravi described the EV movement not as a revolution but as an evolution within the Indian automotive landscape.
During his keynote address at the grand inauguration of GDCTECH 2023 at Chennai Trade Centre, Srinivasan Ravi touched upon the recent challenges faced by the automotive industry, particularly the impact of the pandemic. Despite initial setbacks, including not meeting the projection of 8 million passenger cars, there’s a noticeable shift in the current scenario. He pointed out that the capacities of car manufacturers are now at their peak, highlighting an urgent need for new investments in the sector.
Mr Ravi emphasized the significant transformation that automotive Original Equipment Manufacturers (OEMs) are undergoing. The efforts and developments of the past two to three decades need to be revisited and revamped within the next few years. This rapid pace of change is indicative of the dynamic nature of the industry and its quick adaptation to evolving market demands.
A notable point in his speech was the growth trajectory of the aluminum die-casting industry, which is expected to expand in tandem with the growth of the Indian automotive sector. This growth will necessitate a more robust supply chain around automotive OEMs. Srinivasan Ravi underscored the importance of prioritizing quality and excellence, considering the sustainability factors and India’s increasing role in the global export market in this sector.
Mr Ravi’s insights at GDCTECH 2023 provide a glimpse into the future of the automotive industry in India, particularly the evolving EV sector. His views suggest a period of rapid transformation and growth, underscoring the need for innovation and adaptation in the face of global changes and challenges. As the industry pivots towards more sustainable practices, the emphasis on quality, investment, and robust supply chains will be critical in steering India’s automotive sector towards a successful future.
