Auto Parts Asia — February 2018

AutoPartsAsia | FEBRUARY 2018 | 27

in spurious parts. It will be difficult for
such businesses to work with the new
forms of non-tax benefits and withstand
the new technology onslaught and
to survive in a very clean way that the
new Goods and Services Tax (GST)
regulations demand. They are bound
to get squeezed. “It will be a big
advantage for the organised industry
as counterfeits will come down. But the
transition to a GST-compliant business
is extremely painful,” he said.

Facing Globalisation

The automotive industry in this country
is globally aligned. The technology gap

between a car launched in Europe or

Japan and new models available here

is three to five years; sometimes only

one year. Many brands of cars, and two

and three-wheelers made in India are

exported to ASEAN, Africa and Latin

America.

About the global changes or

disruptions that impact the Indian

aftermarket, Muralidharan said that

could be in three blocks: the global

market and its consequences; the

local market with local laws; and the

influence of adjacent technologies.

For LIS, the strength lies in being a

very old company, one of the very few

automotive companies that has been

in the dividend list since inception, non-

stop for a few decades. He is confident

about the ability of LIS to stay afloat

even among this technological torrent

and move successfully to the next

decade.

“LIS has been changing thoroughly

in the last few years; some call it the

submarine change as it is not obvious

initially, some term it a complete

metamorphosis. Whatever that be, the

changes are now becoming visible and

will continue. LIS motto is ‘Let’s build

the future’, and the tagline ‘Aftermarket

solutions provider’,” he said.

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