Nagpur: Gearing up for the April’s auto trade fair in New Delhi — ACMA Automechanika, the organizers of ACMA Automechanika, Messe Frankfurt India, and the Automotive Component Manufacturers Association (ACMA) say there is a need for deep localization of auto component manufacturing.
Raj Manek, executive director & board member, Messe Frankfurt Asia Holdings Ltd said, “It is very vital to provide a push to local manufacturers to bolster the domestic supply chain and strengthen the automotive industry from its very core. With the world’s leading electric car company (Tesla) setting up its base in India, it will be just a matter of time before the first fleet of electric cars arrives in India. Thus, a more resolute approach towards e-mobility by Original Equipment Manufacturers (OEMs) will largely benefit in the long term.”
Vinnie Mehta, director general of ACMA said, “The excitement is mounting as the biennial ACMA Automechanika New Delhi, the flagship Aftermarket Expo, draws closer. To be organized jointly by ACMA and Messe Frankfurt, the event is being held at an opportune time as the automotive market gains momentum post the pandemic hiatus. The expo, probably, the first of its kind in the real world’ since the lockdown, will be a ‘hybrid’ one. Bridging the best of a physical and online exhibition, the one-stop sourcing platform will provide a preview of the latest aftermarket innovations and a sneak peek into shapes of things to come.”
The approach of the automotive industry in 2020 was largely subdued as the issuance of trade restrictions brought a drastic slowdown in key sectors.
Despite endless hurdles faced last year, some green shoots appeared toward the second quarter as demand briefly resurfaced during festive season. Domestic retail vehicle sales across categories grew for the first time since the onset of the pandemic, as a double-digit growth was achieved in the sale of passenger vehicles (PV) and two-wheelers.
While industry experts continue to be cautiously optimistic, recent projections from Indian Independent and Professional Investment Information and Credit Rating Agency (ICRA) show that the domestic auto component industry’s revenue may grow by 16-18 per cent in the subsequent financial year. There have also been speculations that demands may revert to the 2019 levels, in case auto sales and production retain normalcy this year.
ACMA Automechanika is scheduled to be held from April 22–25 at Pragati Maidan.
Manek said, “Going forward, the focus of our automotive trade fairs will not just be aimed at creating a safe and healthy atmosphere for channel players to promote their businesses, but also enabling them to develop collectively as one integrated industry.”