Held for the first time ever on its own, with the motor show part shifted to Greater Noida, the components section of the Auto Expo was officially thrown open yesterday at Pragati Maidan by the minister of Heavy Industries and Public Enterprises, Praful Patel.
07 Feb 2014 | 3913 Views | By Autocar Pro News Desk
Held for the first time ever on its own, with the motor show part shifted to Greater Noida, the components section of the Auto Expo was officially thrown open yesterday at Pragati Maidan by the minister of Heavy Industries and Public Enterprises, Praful Patel. Also present at the ribbon-cutting ceremony ...
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Held for the first time ever on its own, with the motor show part shifted to Greater Noida, the components section of the Auto Expo was officially thrown open yesterday at Pragati Maidan by the minister of Heavy Industries and Public Enterprises, Praful Patel. Also present at the ribbon-cutting ceremony were Harish Lakshman, president, ACMA; Kris Gopalakrishnan, president, CII; Vikram Kirloskar, president, Society of Indian Automobile Manufacturers (SIAM), other captains of industry, officials and representatives of the exhibiting companies.
Despite the ongoing slowdown, there is a positive sentiment among the 650 exhibitors who are showcasing a comprehensive range of components, technology and services with considerable excitement. A few component suppliers that Autocar Professional spoke said that though OEM footfalls were less on the first two days, export and domestic queries are considerably higher this time around at their stands.
Nevertheless, some companies do feel the absence of OEMs at Pragati Maidan. “For a supplier, the main attraction at an Auto Expo is to anticipate the visit of his customers, which are the vehicle manufacturers. Though we have OEMs visiting us, the overall OEM footfall is expected to be low this time,” said the spokesperson of an auto component supplier requesting anonymity.
The 4-day fair, organised by the Automotive Component Manufacturers Association of India (ACMA) and the Confederation of Indian Industry (CII), sees these exhibitors (a total of 1,100 counting associate companies ) prominently displaying the Indian auto component sector’s technological advancements and innovations. Of note are the seven country pavilions representing Germany, France, the USA, Canada, Japan, the UK and Taiwan, all of them looking to do business with Indian companies.
Having recorded a turnover of $ 39.7 billion (Rs 247,211crore), the Indian auto components industry is expected to grow to $ 115 billion (Rs 716,105 crore) by the year 2020 of which $ 85 billion would be contributed by its domestic turnover and $ 30 billion by its overseas business.
Meanwhile, Praful Patel, who also inaugurated the Motor Show 2014 at the India Expo Mart in Greater Noida, called for greater cooperation between the auto industry and the government to help revive the sector. “There has been a temporary roadblock in the growth of the automobile industry last year and the ever-growing industry witnessed a reversal of trend. It is important that the government takes the right measures and gives incentives and energy stimulus to achieve a turnaround,” he said.
Patel also inaugurated the first ever Electric Mobility Pavilion which displays various hybrid concepts. The ongoing Expo has seen considerable interest in EVs and a host of manufacturers ranging from Mahindra & Mahindra and BMW through to Hero MotoCorp have showcased a varied range of hybrid / electric tech-driven vehicles.