MSMEs Must Embrace Digitisation, AI To Compete Globally: Rakesh Chhabra

New Delhi, Feb 12 (KNN) The Automotive Component Manufacturers Association of India (ACMA) on Wednesday hosted the ACMA Awards Summit 2026, marking the 11th Technology Summit alongside the 60th ACMA Excellence Awards, with a strong focus on the next phase of mobility innovation.

The summit brought together industry leaders, innovators and policymakers to deliberate on digitisation, Industry 4.0, artificial intelligence (AI) and sustainability, while recognising excellence across the automotive component ecosystem.

Speaking at the event, Sriram Viji, President Designate, ACMA and MD & Board Member, Brakes India, said the 60-year milestone reflects the resilience and innovation-driven spirit of the sector.

He noted that this year witnessed a record number of award applications, underscoring the industry’s commitment to continuous improvement and technological advancement.

A key panel discussion examined why MSMEs are not adopting digitisation and Industry 4.0 practices at a faster pace. Rakesh Chhabra, MD, Choudhary Enterprises and President, FISME, emphasised that digital tools and AI are critical for MSMEs aspiring to compete globally.

He said that Digitisation and AI are important tools if MSMEs want to reach the global level. They need to be prepared with these capabilities to align with globalisation.

Chhabra also highlighted the need to strengthen sustainability awareness within Indian enterprises. He advocated greater adoption of rooftop solar solutions, noting that every company should consider solar installations to reduce energy costs and improve long-term profitability.

Referring to financial support mechanisms, he pointed to SIDBI’s STAR (SIDBI Term Loan Assistance for Rooftop Solar PV Plants) scheme, which offers loans ranging from Rs 10 lakh to Rs 2.5 crore, covering up to 100 percent of project cost.

The scheme provides a repayment tenure of up to five years, with a moratorium period of six to 12 months to allow businesses time to stabilise operations before full EMI payments begin.

(KNN Bureau)