As India accelerates its journey on the global mobility map, the automotive industry finds itself at a pivotal inflection point— charged with immense opportunity, yet fraught with intricate challenges. Navigating this dynamic landscape demands more than just innovation; it calls for deep collaboration, strategic foresight, and systemic transformation.
At the panel discussion titled Accelerating India's Automotive Future: Unlocking Opportunities, Overcoming Roadblocks, leading industry voices came together to explore what lies ahead. The panel featured F R Singhvi, President, Automotive Skills Development Council (ASDC); Kamal Bali, President and Managing Director, Volvo Group India; Prashanth Doreswamy, President and CEO, Continental India; Diego Graffi, Chairman and Managing Director, Piaggio Vehicles Pvt. Ltd.; and Mahendra Waghule, Head of Projects and Development, Horizon Industrial Parks. The session was moderated by Prashant Joglekar, Principal Consultant at BMGI, who opened with a powerful insight: that every trend or product requirement ultimately stems from the customer. With that foundation, he turned to Kamal Bali with the opening question—what key trends and shifts does he foresee shaping the future of India's automotive industry?
In a reflective yet forwardlooking note on the future of India's automotive industry, Kamal Bali, President and Managing Director of Volvo Group India, said he's never seen the country in the global spotlight quite like this in his 44-year career. "It's not just the impressive 7–8 per cent GDP growth catching attention, he noted, but a confluence of deeper changes—transformative reforms like GST, the Digital India stack, a push towards decarbonisation, a young, tech-savvy workforce, and a stable, decisive government," he added.
Bali outlined the key global shifts reshaping the industry: growing automation in vehicles and manufacturing, the rise of hyperconnectivity turning vehicles into intelligent IoT devices, and the transition to greener fuels such as battery electric, hydrogen fuel cells, and H2 ICE. But transformation, he cautioned, won't come through competition alone. "It will only succeed when multiple actors—vehicle manufacturers, fuel providers, infrastructure developers— work together," he said, warning that the absence of even one player can derail progress.
Focusing on India, Bali acknowledged the changing regulatory landscape—stricter safety norms, lower emissions, and a drive for greater logistics efficiency. He pointed out that logistics costs in India remain high at 14–15 per cent, compared to the global benchmark of 8–9 per cent, and stressed the need to strengthen long-haul, midmile, and last-mile connectivity. Urban congestion, he added, is no longer limited to metros and is increasingly becoming a challenge for Tier 1 and Tier 2 cities as well.
Looking ahead, Bali remained optimistic. Demand for mobility, he said, will continue to grow—albeit in new, shared, and multi-modal forms. "India's auto sector is expected to grow by 50 per cent between 2022 and 2030, with vehicle production rising from 5.1 million to 7.5 million units," he said. "Freight movement in the commercial vehicle segment will also jump from 2.2 trillion to 9.6 trillion kilometre-tonnes." But he added a word of caution: "It won't be business as usual. Every company will need to define its own transformational pathway to thrive in this new era."
Diego Graffi, Chairman and Managing Director, Piaggio Vehicles Pvt. Ltd., remarked that the changing consumer mindset—from focusing on mileage to prioritising safety—is indeed influencing the commercial vehicle manufacturing sector. Reflecting on his eight years in India, he said he had witnessed a remarkable transformation in the three-wheeler and small commercial vehicle space. What was once a diesel-dominated industry has now diversified into CNG, electric, flex fuels, ethanol, biogas, and biodiesel. He observed that the sector today is almost unrecognisable compared to what it was seven or eight years ago.
Graffi credited this rapid evolution to the combined efforts of OEMs, governments, and regulators, noting that such swift change is rare anywhere in the world. However, he pointed out that significant challenges remain, especially around charging infrastructure in regions like Uttar Pradesh and Bihar. While the technological hurdles have largely been overcome, he said the availability and stability of electric charging points still pose problems.
He acknowledged India's global leadership in electric mobility but criticised the inconsistency in government policy, particularly frequent changes to battery homologation norms, which he felt made it difficult for the industry to keep pace. Though he welcomed the increased emphasis on safety and consumer rights, he called for greater policy stability to ease the transition.
Graffi also suggested extending the 5 per cent GST rate on EVs to imported components that are not yet manufactured locally, as India remains dependent on some foreign parts. However, he noted that Indian consumers have clearly shifted towards electric vehicles for daily use, but a fully sustainable transition will require collective action to address the remaining roadblocks.
When the moderator asked the speakers to identify two key forces that suggest India's automotive future is not only within reach but may arrive sooner than expected, Kamal Bali, President and MD of Volvo Group India, said the country was poised at a rare and extraordinary moment of opportunity. Drawing from his multinational experience, he observed that global companies were now viewing India not merely as a market but as a manufacturing hub for the world—a shift that has accelerated significantly in the wake of the pandemic. He described this growing global confidence in India's production capabilities as a major driver of transformation.
Bali highlighted India's shift from 90 per cent thermal to a 50-50 energy mix by 2030 as proof of its green mobility ambitions, sending strong global signals. He praised India's 46 per cent share in Global Capability Centres for fuelling innovation and noted domestic champions like Mahindra and Tata are ready to scale. Calling the automotive future "inspiring," he urged youth to see manufacturing as a vibrant, modern career path.
Mahendra Waghule agreed with Kamal Bali's views, adding that government initiatives such as Make in India and the China Plus One strategy were driving significant investments. Speaking on behalf of his organisation, which is backed by Blackstone—one of the world's largest private equity firms—he said that India was being increasingly visualised as a global manufacturing hub. He mentioned that massive investments are being planned to develop industrial parks and promote overall industrial growth, given the immense opportunity India presents.
Prashanth Doreswamy, President and CEO of Continental India, outlined how tech providers are helping reduce the auto industry's reliance on imports, especially from China. He likened modern vehicles to smartphones, saying the future lies in software-defined cars with shared operating systems that cut development costs. Mahindra's B9E is already showing this trend.
However, India still depends heavily on imported electronics and semiconductors. Despite government incentives, global firms remain cautious due to established supply chains in Southeast Asia and the U.S. Still, early steps by firms like Tata Electronics and Micron signal progress. In the meantime, the industry is relying on buffer stocks. "We've become supply chain monitoring experts," he said.
Doreswamy noted a rise in local PCB production, helped by antidumping duties and investment interest. He projected India's component exports could grow from $20bn to $100bn by 2030 and flagged ICE components as a major export opportunity as the world shifts to EVs.
He concluded by warning against blindly copying Western mobility models, urging a mix of shared and personal transport solutions tailored to India.
Moderator Joglekar asked F R Singhvi, President of ASDC, about how India is tackling skill development amid rapid tech shifts. Singhvi praised the event as a true "Festival of Manufacturing," celebrating progress rather than pausing business like other festivals. He credited past generations for India's demographic dividend and said the country's young, energetic workforce was drawing global attention.
"Unlike the West, manufacturing here is still aspirational," he said, adding that India must shift from leniency to a culture of quality and discipline. ASDC is driving this through targeted training.
He remained confident in India's talent, especially in R&D, and said engineers abroad would return if given the right opportunities. While R&D investment lags, Singhvi believes domestic consumption can create the necessary scale to drive innovation.
ASDC has trained over five lakh people this year—in EV tech, women drivers, and roadside mechanics. Many now earn more and even create jobs. To meet the need for 2.5 million skilled workers annually, ASDC is supplying trained technicians abroad, with 3,000 set for the UK, Germany, and Austria. The first batch, fluent in German, is already under training.
Singhvi cited global recognition, like Boeing's use of Indian-made components, as validation of India's manufacturing strength. ASDC's programmes include technical, soft skills, and work ethics training. "We're just facilitators," he said, urging wider participation.
ASDC has partnered with 13 universities and introduced 145 industry-specific courses. Singhvi applauded the government's education policy, which lets students intern with firms, and called for seeing the auto sector as part of a wider mobility ecosystem. "Let's instil discipline and purpose in our youth," he concluded, "and build a future-ready workforce."
As the panel concluded, another panellist echoed the sentiment, saying companies often had everything— except skilled people, invoking a line once attributed to Henry Ford.
Before stepping down, Singhvi made one last point. "People fear new technologies will kill jobs. That's not true," he said. Drawing from his own firm—where 70 per cent of the business still lies in ICE vehicles—he explained that only the machines had changed, not the people. "We moved from manual drills to CNC machines. The jobs stayed—the skills evolved." His parting message was clear: "Technology doesn't eliminate jobs. It demands, we upskill our people. That's the future."
Towards the close of the session, the moderator posed a pointed question to the panellists: what single idea, in their view, held the most promise for shaping the future of India's automotive industry—an idea they were not only excited about but believed could be truly transformative.
Diego Graffi's response was immediate and clear—India must invest in itself, for the world. He believed India already possessed the right mix of advanced technology, skilled talent, and robust infrastructure. For him, the vision was straightforward: position India as a global hub for automotive development.
Prashant Doreswamy offered two key insights. First, he stressed the need to improve ease of doing business, noting India still had a long way to go. Second, he called for raising the perception of "Made in India," saying quality and discipline mattered as much as investment. He pointed to a lack of attention to craftsmanship, even in basics like casting. With India projected to see a 4.5 per cent CAGR over the next decade—the world's highest—he recognised the country's potential but warned the window was limited. "The next 50 years may not be India's," he said. "We've got 15–20 years to get it right. Better be rich before you age."
ht. Better be rich before you age." Kamal Bali saw the future rooted in collaboration. For him, the path forward was paved with partnerships. No single company, he argued, could meet the scale and diversity of demand emerging from global markets. He pointed to alliances between former rivals like Daimler and Volvo, who were now jointly investing in softwaredefined vehicles and clean energy solutions. In his view, it was no longer about competition—it was about cocreation. Only by working together could Indian players take their place on the global stage.
Singhvi took a bold stance, urging India to embrace competition instead of protectionism. Citing Donald Trump's call for lower tariffs, he argued that opening markets would attract global players and push Indian firms to excel. "Competition challenges us to improve," he said, warning that protectionism breeds complacency.
In conclusion, while each panellist approached the question from a different angle—be it global ambition, internal reform, strategic collaboration, or open competition— their shared message was clear: the future of India's automotive sector will depend not just on innovation, but on the mindset with which the industry chooses to evolve. Whether through partnerships or pressure, India must act with purpose, and act now.