Vivek Vikram Singh, Managing Director and Group CEO of Sona Comstar, provided insights into the current state and future prospects of India’s auto component industry. He also discussed his company’s journey and the evolving dynamics within the sector.
Singh began by addressing the personal impact of loss, while emphasizing the importance of ongoing responsibilities and commitments.
He highlighted Sona Comstar’s evolution from a gear-focused manufacturer to a developer of advanced systems. He outlined how the company expanded its capabilities to encompass a wide range of products. He also emphasized the importance of remaining focused on the customer, employees and shareholders.
Singh highlighted the growing trend of component manufacturers becoming system partners for automakers. This enables automakers to focus on core areas, such as design, innovation, sales, and service, by outsourcing other functions.
Discussing Tier 0.5 suppliers, Singh acknowledged the difficulties that exist.
He expressed his vision for the industry achieving a $100 billion target. Singh believes this goal is highly ambitious, and requires significant investment in research, engineering, and a strong supporting ecosystem. He stressed that achieving this growth requires determination and forward-thinking strategies.