New Delhi, Apr 11 (KNN) India's automotive industry is gearing up for a major overhaul as Prime Minister Narendra Modi has reportedly asked the sector to prepare a comprehensive plan for the future, titled 'Automotive Mission Plan (AMP) 2047'.

This ambitious initiative is expected to be announced as part of the government's 'first 100 days' agenda following the formation of the new administration.

According to sources, the Prime Minister is likely to unveil the AMP 2047 during the conventions of the Society of Indian Automobile Manufacturers (SIAM) and the Automotive Components Manufacturers Association (ACMA) in September.

The AMP 2047 aims to set ambitious targets for the Indian automotive industry, including achieving a 30 per cent share in exporting automobiles and auto components by 2030, and ultimately reaching a 50 per cent export target by 2047.

A meeting was held on Monday at the Ministry of Heavy Industries (MHI) to discuss the success stories and key points that should be included in the 'first 100 days' plan and the targets for AMP 2047. 

The meeting was chaired by MHI Secretary Kamran Rizvi and Pawan Goenka, the Head of the SCALE committee (Steering Committee for Advancing Local Value-Add and Exports).

Sources indicate that the meeting was an initial brainstorming session to gather industry inputs, and more meetings and sub-committees will be formed in the future to finalise the details of the mission plan.

The AMP 2047 will be the third such initiative in India, following the AMP 2006-16 launched by former Prime Minister Manmohan Singh, and the AMP 2016-26 released by the current government in 2015. 

While previous mission plans had ambitious goals, they failed to achieve their targets, prompting the need for a renewed and comprehensive plan for the future of the Indian automotive industry.

As India aims to establish itself as a global hub for design and manufacturing of automobiles and auto components, the AMP 2047 is expected to provide a roadmap for the industry's growth, innovation, and competitiveness in the coming decades.

(KNN Bureau)