The automotive aftermarket plays a crucial role in an auto component manufacturer’s business career. Nearly 50 per cent of the
component business comes from the aftermarket segment. Sale of counterfeit products that look exactly identical to the original parts accounts for nearly 36 per cent of the total business.
With India slowly becoming a global hub for small car manufacturers, the technology available in the country does not meet the international standards. Vehicle manufacturers who have their tech centres in India are still importing their core technology from their parent companies overseas.
According to a recent study conducted by ACMA as given in its ‘Vision 2020’, India is destined to be among the world’s top five auto producers by 2020, with its huge potential, resources, skilled manpower and in-house technology, said Mr. J.S. Chopra, President, Delphi-TVS Diesel Systems Ltd., in his address as the chief guest at the 69th AGM of the Madras Motor Parts Dealers’ Association (MMPDA).
Mr. Chopra also spoke about the country’s poor infrastructure, increasing vehicle population and the emission of poisonous gases from vehicles which is of great concern for environmentalists worldwide. In order to tackle this problem, stringent emission norms based on European regulations are being adhered to by Indian automobile manufacturers.
Earlier, Mr. Harbhajan Singh Suri, Hony. Secretary, MMPDA, in his speech, highlighted the various CSR activities of the Association and its growing membership.
Mr. K. Jayaraman, President of the Association, delivered the welcome speech at the AGM which was largely attended.
Mr. K.L. Tilakchand, who has been the guiding force to the Association on income-tax related matters, was a special invitee on the occasion.