The $39-billion Indian auto component industry, with current exports estimated at $11.2 billion, is expected to grow to $200 billion by 2026, while the aftermarket is projected to expand from $6.5 billion to $32 billion.
With the objective to reaching the export target, Automotive Component Manufacturers Association (ACMA) participated in the Automechanika Frankfurt 2016. The show helped the ACMA members to explore aftermarket business opportunities and connect with global auto component suppliers.
As the world’s biggest trade fair for the automotive aftermarket, Automechanika spotlights innovations and solutions in the fields of parts, systems, tuning, workshop equipment, bodywork & paintwork, car wash, IT & Management and the latest automobile services. It also offered a unique opportunity to display a spectrum of automotive parts products, car washing, workshop & filling station equipment, IT products and services, accessories and tuning.
Speaking on the occasion, Mr. Rattan Kapur, ACMA President, said: “ACMA is proud to participate at the most renowned and successful aftermarket trade fair showcasing technological prowess of the Indian auto component industry.”
Recognising the importance of the trade fair, Mr. Vinnie Mehta, ACMA Director-General, said: “With the objective of connecting globally, ACMA’s participation in Automechanika Frankfurt offers a reliable platform for the international automotive component and aftermarket professionals to source best of the Indian aftermarket products & technologies, besides creating business alliance with the exhibiting participants. Over the years the Indian auto component industry has developed strong manufacturing capabilities that have helped them in offering price competitive products and meeting stringent quality norms. Indian auto components are exported to more than 160 countries and have been growing at 15 per cent per annum over the past six years.”