Around 100 Indian automotive component suppliers will showcase their latest products and technologies at Middle East edition of leading aftermarket trade fair.
06 May 2017 | 4628 Views | By Autocar Pro News Desk
Around 100 Indian companies are participating at Automechanika Dubai 2017, the largest international automotive aftermarket trade show in the Middle East, which is to be held from May 7-9.
EEPC India and the Automotive Component Manufacturers Association of India (ACMA) will showcase India’s strengths in the auto components sector ...
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Around 100 Indian companies are participating at Automechanika Dubai 2017, the largest international automotive aftermarket trade show in the Middle East, which is to be held from May 7-9.
EEPC India and the Automotive Component Manufacturers Association of India (ACMA) will showcase India’s strengths in the auto components sector with the India Brand Equity Foundation (IBEF) being the branding partner for India’s participation at the event. India is the country pavilion partner at Automechanika Dubai 2017.
Over 30,000 professionals from over 130 countries are expected to attend the exhibition being held at the Dubai World Trade Centre. More than 2,000 exhibitors will showcase their products at the 15th edition of the exhibition which covers six areas of the auto components industry – parts & components, electronics & systems, repair & maintenance, tyres & batteries, accessories & customising and car wash, care & reconditioning.
Bullish on component exports
Already exporting to over 160 countries, Indian auto components exports are expected to reach US$ 70-80 billion by 2026. The exports from the industry registered a strong compound annual growth rate (CAGR) of 14% during 2006-16, increasing from US$ 3.2 billion to US$ 10.81 billion during the next 10-year period.
“Backed by favourable government policies, conducive factors such as geographical proximity to key automotive markets like the Middle East and Europe, enhanced manufacturing capabilities and highly skilled engineering manpower, the Indian auto component industry is globally competitive and has emerged as strong exporter of auto components,” said Bhaskar Sarkar, executive director and secretary, EEPC India.
"India being a cost effective hub for manufacturing high quality auto components, is fast emerging as the preferred global sourcing base. The Indian auto component sector today produces a wide range of high-value precision components for almost all global automotive majors and Tier 1s,” said Vinnie Mehta, director general, ACMA.
Big contributor to Make In India
The Indian auto component industry boasts of 16 Deming and two Grand Deming awardees, the highest outside of Japan. Further, enhanced sourcing from India by original equipment manufacturers (OEMs) and Tier 1 suppliers for global markets and increased localisation by OEMs invested in India, is also turning the country into a preferred engineering and product designing hub, especially for emerging markets.
The auto components industry accounts for almost 4 percent of India’s GDP and employs 1.5 million people, directly and as many indirectly. Increased investments in engineering, R&D and new product development, are expected to further boost India’s position as a leading supplier for the global industry.