Need infra to enhance sub-tier downstream value chain: HMIL MD

India needs to set up infrastructure for enhancing sub tier downstream value chain which will aid in achieving further localisation levels, said Hyundai Motor India's MD, SS Kim.

Speaking at the 61st ACMA Annual Session, Kim said: "This strategy will ensure a greater level of competence and stability for the entire industry in India and for our export operations.To create a robust sub-vendor ecosystem government intervention and support will go a long way in making India a true manufacturing hub."

He added that "The need for localisation is immensely significant in today's context as it will usher in an era of sustainable growth for India and the automotive industry."

According to Kim, for the future, component manufacturers and OEMs should continue investing in technological advancement with a keen focus on "workplace safety, harmonious employee relationship and government collaboration." Besides, he cited that scope to increase car penetration and potential for motorisation in India is effectively high.

"As urbanisation continues to grow in India, personal mobility holds high growth potential and business opportunity. While we focus on ramping up operations to facilitate future growth, there is an equal and urgent need to be more responsible towards environment and social issues."