Automotive industry is on the verge of technological disruption. India's automobile industry is the fourth largest, with industry analysts pegging the country as the world's 4th largest manufacturer of cars and the 7th largest manufacturer of commercial vehicles in 2017. Indian automotive industry (including component manufacturing) is expected to reach INR 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026.
While India took more than seven years to increase the annual production to 4 Million from 3 Million, industry analysts are predicting that the immediate milestone-5 Million could happen in less than 5 years, and it is expected that India could emerge as the world's 3rd largest Electric Vehicle (EV) market by 2022.
This would be the first step towards the "Connected Car" technology becoming the mainstay of Indian road transportation. Automotive electronics, radars, Wi-Fi, smart apps are shaping the future of connected car technologies, ushering in advances in the areas of safety, autonomous driving, convenience and in-car infotainment. Global automobile majors are working in India to develop and integrate different pieces of the autonomous vehicle technology with renewed emphasis on security from the physical and digital perspectives.
Automotive companies are working with technology leaders across multiple disciplines to integrate contemporary digitization technology stack including Data Science, Machine Learning, AI, IOT, Cloud Computing); data transmission technologies including Wi-Fi and Li-fi (transmitting data through light spectrum) to address development paradigms including in-vehicle communication, car-to-car communication indicating that the day is not too far off when digital technologies and human intelligence are intertwined to create "Future Intelligence".
Increasing trend of digitalization, policy emphasis on slashing carbon emissions and reducing reliance on consumption of fossil fuels could pave the way for India becoming a significant market for electric vehicles. Four technology-driven trends, -electrification, connectivity, shared mobility, and autonomous driving are setting the contours for the automotive industry of the future. These trends will usher in a paradigm shift in markets and revenue pools, with transformation in mobility behaviour and create new avenues for growth and profitability.
Stakeholders of the Indian automotive sector, including the Government and public policy think-tanks; industry and entrepreneurs; academia and researchers will need to deliberate on the moments of truth: Are we prepared for the far-reaching changes being brought in by technology? What will be the strategy to create and expand into new markets?
Indian Technology Congress-2019 is a distinctive technology-centric conference focused on addressing the challenges at this intersection:
Technology: Being at the forefront of advanced technology trends and application, with emphasis on demonstrating real-world applications and impact for societal advancement
Business: Creating the environment of "mind-flex" where the workforce can adapt to the pace of technological advancement and contribute to growth
People: Building capacity in partnership with academia to ensure industry has the people with appropriate skills to succeed, and drive-forward the technology economy of the future
The Government's Automotive Mission Plan and the National Electric Mobility Mission Plan (NEMMP) seek to achieve the following objectives
If cities are the "Engines of Economic Growth" its mobility systems are the "wheels of that engine"- NITI Aayog
Video Demonstration: Companies can showcase their solutions (video) to the Automotive IndustryContact ITC Secretariat for more information