Don't mandate localisation; incentivise it: ACMA President Sunjay Kapur

ICE is not going away, and we're going to see that continue for quite some time, specifically in India, says the president of ACMA and chairman of Sona Comstar

S Dinakar
Last Updated at November 16, 2022 10:05 IST

ACMA President Sunjay Kapur

We saw an explosive growth in exports of 43 per cent in FY22, and we had a trade surplus for the first time, said Sunjay Kapur, speaking in his capacity as president of the Automotive Component Manufacturers Association of India (ACMA). We've seen many opportunities, whether because of China plus one or because we have had sourcing opportunities outside India. ICE is not going away, and we're going to see that continue for quite some time, specifically in India. Kapur's also chairman of SONA Comstar, one of the world's largest manufacturers of precision forged gears. Edited excerpts below:

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

MONTHLY

₹ 249

Select

ANNUAL

₹ 1799

Select

Best Offer

SMART ANNUAL

₹ 1499

₹ 1799

Opt for auto renewal and save Rs 300

Select

What you get on Business Standard Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Pick your 5 favourite companies, get a daily email with all news updates on them.
26 years of website archives.
Preferential invites to Business Standard events.