With the objective of enhancing component exports globally, the Automotive Component Manufacturers Association (ACMA) recently organised the first-ever iAutoConnect 2016, an International Reverse Buyers-Sellers Meet, in Gurgaon, with the support of the Union Ministry of Commerce.
The meet had participation from nearly 150 international auto component aftermarket distributors from 45 countries such as Iran, Africa, Central & Eastern Europe (CEE), CIS, ASEAN, West Asia, Japan and North America. The exhibits by over 180 Indian manufacturers gave the visiting international delegates an insight into the rapidly growing capabilities of the Indian automotive component industry.
Mr. Pravin Agrawal, Director, Department of Heavy Industry, Ministry of Heavy Industries & Public Enterprises, who was the chief guest on the occasion, said: “The Government has identified auto components as a key thrust area for exports. We have been supporting the industry in its export efforts and are willing to partner with it in creating a credible image for the components manufacturing sector. Our Ministry has therefore supported ACMA in its study of the global aftermarket, and we are pleased that iAutoConnect is a follow through to the study”.
Mr. Rattan Kapur, ACMA President, said: “ACMA has recently conducted a detailed analysis of twenty countries spanning Africa, Latin America and the CIS region, for aftermarket across the segments of passenger cars, commercial vehicles, two-wheelers, three-wheelers and tractors. The estimated aftermarket opportunity in these identified countries is around $41.6 billion. It is against this backdrop that ACMA has organized this first-ever iAutoConnect 2016 to present to the Indian companies buyers from the potential identified aftermarkets.”
Speaking on the positive response at the international meet, Mr. Vinnie Mehta, ACMA Director-General, said: “We at ACMA strongly believe that this global platform of iAutoConnect is a great opportunity for participants to showcase their strengths and capabilities. The tremendous response from international buyers to this event is a proof of growing credibility of Indian manufactured auto components. We intend to make this event an annual feature to help promote exports of aftermarket products from India.”