Harmonised regulatory framework and consistent incentives essential for auto industry’s growth: HMIL’s Unsoo Kim

A harmonised regulatory framework—in tandem with consistent incentives—is essential for the growth of the industry, Unsoo Kim, managing director, Hyundai Motor India Limited , said at the 65th SIAM Annual Convention in New Delhi on Thursday.

“The alignment of central and state policies has already catalysed progress. The recent GST reforms are expected to boost the sector further. We remain optimistic about a surge in consumer sentiment during the upcoming festive season, and an overall growth in both the short-term and long-term,” Kim said.

Kim, on behalf of the company, hailed the GST reforms. “This historic initiative marks a pivotal step in our collective aspiration to build a Viksit Bharat. By reducing the tax burden on essential goods, the government has laid the foundation for inclusive growth and a consumption-led economy. The GST overhaul will further energise the automotive sector, aligning seamlessly with the Make in India vision, by encouraging domestic manufacturing and stimulating demand across both urban and rural markets,” he explained.

He also stated that HMIL views public-private partnerships as a strategic enabler, as the future of mobility must be co-created. “OEMs, startups, academia, technology firms and government bodies must collaborate to build the ecosystem—from infrastructure to digital solutions, to workforce enrichment,” he said.

Kim also averred that the transition to green energy demands significant investment, and the urgency of climate action calls for coordinated, decisive efforts. “As a cornerstone of economic growth and social development, the automotive industry must rise to this challenge. Bharat occupies a unique and strategic position in this global transformation,” he said.

He also noted that the Government of India’s initiatives like FAME, Production Linked Incentives, PM Gati Shakti, etc., coupled with a strong emphasis on EV adoption and eco-friendly E20 fuels, have laid a robust foundation for sustainable mobility.

“Under the Make in India and Atmanirbhar Bharat frameworks, the automotive sector is emerging as a key driver of self-reliance and global competitiveness. Through a synergy of world-class technology and indigenous engineering talent, India is becoming a global hub for innovation and advanced manufacturing,” he said.

Kim also added that the potential for collaboration is vast. “India has the scale, the skills, and the spirit to co-develop solutions with global partners —solutions that are made in India, for India, and for the world.”

Kim also acknowledged that the road ahead may be complex, but it is rich with promise and potential. “This is the moment for global collaboration and local innovation. It is time to exchange ideas, forge partnerships, and commit ourselves to building a sustainable future for generations to come,” he said.

 He exhorted the industry to nurture talent, invest in skill development and prepare a future-ready workforce that can lead Bharat into the next era of mobility. “Localisation will be key—in manufacturing, technology, and supply chains—ensuring that India contributes not just in scale, but in meaningful value creation.”