The Automotive Component Manufacturers Association of India (ACMA), with the support of the Department of Commerce, organised a first-ever buyer-seller meet in Colombo on March 28, which held a detailed discussion on exploration of aftermarket opportunities in India. The meet was organised against the backdrop of Prime Minister Narendra Modi’s recent visit to Sri Lanka to strengthen business ties between the two countries.
At the event, 16 leading Indian component manufacturers showcased ‘Made in India’ aftermarket products, while over 50 key buyers, including dealers, distributors and importers from Sri Lanka, showed keen interest in them. Additionally, a seminar on ‘Indian Auto Industry: Opportunities & Challenges’ was organised by ACMA in co-operation with the High Commission of India, which served as an ideal platform for the Sri Lankan delegates to get an insight into the growing capabilities of the Indian auto component industry.
Talking on the positive outcome of the meet, Mr. Vinnie Mehta, ACMA Director-General, said: “The Sri Lankan automotive market has a significant presence of Indian vehicles, and as the vehicle parc in the country grows, it offers a significant opportunity for the Indian auto component manufacturers to service the aftermarket. ACMA looks forward to be actively engaged in the Sri Lankan market to enable the auto component manufacturers in India to expand their business and harness the aftermarket opportunities.”