NEW DELHI: While all the big-ticket investment and launch plans might have grabbed the headlines at the just concluded Auto Expo, it was the auto components industry that quietly went about garnering all the orders estimated at $150 million.
“The auto components industry has been the real story of the Auto Expo as most of the business has been generated by them,” Society of Indian Automobile Manufacturers (SIAM) director general Dilip Chenoy said.
Auto component delegations from over 24 countries were at the Expo to identify potential joint venture partners and opportunities to outsource parts from India.
Over 250 meetings for the visiting delegations were pre-arranged even before they set foot in Delhi apart from several delegations and businessmen who came on their own to look for partnerships with Indian components manufacturers.
“Over 25 individual delegations visited the Auto Expo apart from other delegations and businessmen who came on their own. This kind of international participation is unprecedented,” Automotive Component Manufacturers Association of India (ACMA) executive director Vishnu Mathur said.
Leading the way was a 30-member delegation from ACMA’s Spanish counterpart Sern Auto apart from delegations from Japan, France, Germany and even Iran and Iraq.
“The auto industry in Iran is looking up to India as a senior partner to procure technology from since they cannot access technology from the West,” Chenoy said. Other international manufacturers like PSA Peugeot, Continental, Eaton and Magna also sent large delegations to assess the business potential in the Indian.
“PSA Peugeot spends about 30 billion euros to source parts. They have already placed orders for 9 million euros at the Expo from Indian companies which they had contacted earlier,” Mathur said.
|
