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The Indian automobile industry is passing through a crucial stage. During the 1999 annual session (1)* of the Society of Indian Automobile Manufacturers (SIAM), it was reported that the Industry Ministry of our Government fully appreciated the contribution of the automobile industry to the national exchequer and wanted the association to prepare a comprehensive draft on auto policy with a 10 to 15 years perspective. The Chairman of Tata Engineering and Locomotive Company (TELCO), Mr. Rattan Tata in his thoughtful address to the 39th Annual Session of the Conference of the Automotive Component Manufacturers Association (ACMA) on Sept 6, '99 expressed his concern regarding the future of the Indian automotive industry in facing the challenges ahead as the industry is geared to merge with the fast track of global competition. He stressed the need for close cooperation amongst the countries in Asia and hoped for the development of a true Asian car.