Hyundai India MD seeks long-term policy, shift to advanced tech exports

Hyundai Motor India MD and CEO Tarun Garg on Wednesday called for a consistent long-term policy framework to support scale and accelerate technology and component development, while urging the country's auto industry to move beyond exporting conventional components to advanced technologies, engineering capabilities and innovation.

Addressing the 66th Annual Session of the Automotive Component Manufacturers Association of India (ACMA), Garg said India needs to accelerate efforts to build domestic capabilities in critical technologies such as semiconductor chips, EV battery cells and power electronics.

"The government on its part needs to provide consistent long-term policy that supports scale and accelerates the development of technologies and components," Garg said.

He observed that the time has come for India to progress from exporting conventional components to exporting advanced technologies, engineering capability and innovation.

Garg said India exported about USD 24 billion wo