The Automotive Component Manufacturers Association of India (ACMA), the apex body representing India's auto component manufacturing industry, announced the appointment of Ram Venkataramani, Managing Director, India Piston Rings as its new President of ACMA while Deepak Jain, Managing Director, Lumax Industries Ltd. as Vice President for the term 2018-19. The announcement was made at the 58th Annual Session of ACMA.
Announcing the new leadership, ACMA Director General, Vinnie Mehta, said, "We are delighted to announce the appointment of Mr. Ram Venkataramani, as ACMA President and that of Mr Deepak Jain as Vice President. Venkataramani, an industry veteran brings to the body over two decades of rich experience and a wealth of knowledge. Deepak Jain also brings in considerable proficiency and leadership that will help advance the ACMA agenda."
Accepting the new responsibility, ACMA President, Ram Venkataramani, said, "It is a matter of privilege for me to be appointed as President of ACMA. Having deep roots in the auto component industry, I can well appreciate the challenges facing the industry today, especially in light of several regulatory challenges as also enhanced customer expectations.
ACMA is the apex body representing the interest of the Indian auto component industry. Its membership of over 800 manufacturers contributes more than 90 per cent of the auto component industry's turnover in the organized. The Indian auto-component industry showed healthy growth of 18.3 per cent posting ₹ 3,45,635 crore turnover in the FY 2017-2018. The exports showed a growth of 23.9 percent scaling to ₹ 90,571 crore in FY 2017-18, while the aftermarket grew by 9.8 per cent to ₹ 61,601 crore from ₹ 56,096 crore in the previous fiscal.