Theme: Automobile | China plus one strategy is playing out in our favour: ACMA President Sunjay Kapur

In its latest performance report, the Automotive Component Manufacturers Association of India (ACMA) has said that the industry registered a growth of 32.8 per cent over the previous year. It also showed that sales to domestic OEMs and exports are on the rise, despite the threat of a recession in the US and the Russia-Ukraine war. In this episode of the State of the Economy podcast, S Ronendra Singh talks to Sunjay Kapur, ACMA President and the Chairman at Sona Comstar, about the shifting market dynamics, the electrification push, and global diversification.  In the podcast, they discuss how foreign OEMs' 'China Plus One' strategy is helping Indian auto component manufacturers increase their exports. They also discuss how the segment is adapting to provide components for electric vehicles. Sanjay Kapur noted that a significant portion of ACMA's executive committee members are prepared to supply components for EVs. He reiterated the industry's commitment to job creation, stating that as capacity expands, more job opportunities will arise, supported by collaborations in skilling and training initiatives. (Host: S Ronendra Singh, Producer: V Nivedita) ----------- About the State of the Economy podcast India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups