Auto Component Manufacturers Association of India (ACMA), the nodal agency, which takes care of the interests of Indian auto component industry, along with Automotive Parts Manufacturers Association (APMA) on February 8, 2014 jointly organised a seminar on ‘Business Opportunity with Canadian Automotive Industry’, at Pragati Maidan, New Delhi as part of the Auto Expo 2014.
From (L-R): Deep Kapuria, Past President ACMA, Steve Rodgers, President of APMA, Harish Lakshman, President of ACMA, Sara Wilshaw, Minister, Commercial, Government of Canada, Peter Frise, Scientific Director and CEO, AUTO21 and Ramesh Suri, Vice President of ACMA.
According to an official statement, both the associations organised the session with a mission for Canadian firms to explore the potential opportunities, collaborations and partnerships with India.
At present, the Indian auto component industry is undergoing transformation, while ACMA and its member firms are working towards improving the overall competitiveness of the supply chain through various tiers.
At present, the Indian auto component industry size is pegged at $ 39.7 billion with key growth sectors in the vehicle production area including commercial vehicles, construction equipment, tractors, both two-wheeler and three-wheeler segments respectively.
The key growth factor for the Indian auto component industry has been the consistent burgeoning of exports of auto parts. Exports of auto parts from India to Canada has doubled from $ 50 in 2010 to $ 93 million in 2012, thereby providing the mettle of the industry at large.
India is credited of having around 60-65 percent of R&D Centres catering to the internal requirement of the industry leading to a steady increase in employment. The industry offers employment opportunities to close to 30,000 to 35,000 engineers every year. Going forward, the Indian auto component industry’s focus would be to bring more innovation and research so as to make a strong offering to business community across the world.
The automotive manufacturing industry is the largest sector in Canada. What is more, the auto industry in that country is export intensive, as the nation ships three-quarters of of production in a year. Canada is part of a fully integrated North American market with annual sales of about 20 million vehicles and accounts for 16 percent of NAFTA production.
Much to offer
Canada has much to offer in alternative fuels and power trains, electric vehicles and fuel cells, connected car and intelligent transportation; bio-materials, composites and light metals, advanced safety systems and more. Furthermore, with Canada’s exports to India still continuing to be around $ 30 million from 2010 to 2012, it is therefore vital for both countries to help promote and grow each others’ export capabilities and technology transfer and hence allow for a healthy dialogue between the two industries.
Part of global supply chain
With introduction of high class technology in India, the component manufactures have been able to be a part of global supply chain. This has greatly been of help on the international market, giving more visibility and growth to the Indian market. By the end of 2020, the Auto Component Industry is expected to grow to $ 115 billion. There is a positive vibrancy seen in the Indian economy showcasing the growing Engineering and IT capabilities for designing and manufacturing which is of utmost relevance to the Canadian automotive sector. This session was attended by a delegation from APMA led by Steve Rodgers, President and Harish Lakshman, President ACMA representing the Indian delegation.
The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of the Indian Auto Component Industry. Its active involvement in trade promotion, technology up-gradation, quality enhancement and collection and dissemination of information has made it a vital catalyst for this industry’s development. ACMA’s charter is to develop a globally competitive Indian auto component Industry and strengthen its role in national economic development as also promote business through international alliances. ACMA is an ISO 9001:2008 certified Association with a membership of over 700 members.