A strong 23-company group is representing the Indian auto components industry at UK’s top automotive components and supply chain expo for the very first time.
07 Jun 2017 | 4719 Views | By Autocar Pro News Desk
The Automechanika Birmingham 2017, being held at NEC in Birmingham, from June 6-8, is witnessing robust participation from India, led by unified vendor body, Automotive Components Manufacturers Association of India (ACMA).
Leading component suppliers from diverse automotive fields, including Lucas TVS, NBC Bearings, Simco Auto, Macas Automotive and Jamna ...
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The Automechanika Birmingham 2017, being held at NEC in Birmingham, from June 6-8, is witnessing robust participation from India, led by unified vendor body, Automotive Components Manufacturers Association of India (ACMA).
Leading component suppliers from diverse automotive fields, including Lucas TVS, NBC Bearings, Simco Auto, Macas Automotive and Jamna Auto are among the top exhibitors from India, displaying at the magnanimous event, having a cumulative vendor parc of 750 players.
On the occasion of its debut at the Automechanika Birmingham, Rattan Kapur, president, ACMA, said “With approx. £71 billion turnover and £18.9 billion value added in 2016, the UK automotive industry has become one of the key drivers of the UK economy. It accounts for 12% of total UK export of goods and invests £4 billion each year in automotive R&D. The current auto component trade between India and UK stands at USD 900 million. With the automotive industry in the UK gaining traction, the show will serve as an ideal platform to further our business linkages and explore newer opportunities.”
The Indian passenger automotive sector closed the FY2017 with a 9 percent growth and is expected to continue its surge at 7-9 percent for the FY2018. The components industry alone is party to 4 percent of the country’s GDP, employing over 3 million people.
With government’s consistent push towards policy reforms and encouraging more local manufacturing, the components exports from India have registered a hefty CAGR of 14 percent for the last ten years until 2016.
Going at the current pace, the exports are further set to rise dramatically to US$ 70-80 billion over the next decade.
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