Indian Pavilion Nets Orders Worth $11m At Auto Fair

Enquiries expected to translate into orders have been put at $44 million, of which $27 million will be for after-market and the remaining $17 million for the OEM supplies.

Business apart, according to ACMA sources, Indian firms received several proposals for setting up of joint ventures in the country. Many participants also evinced interest in forging strategic alliances to cater to the growing Asian market, a senior participating company official said while talking to Business Standard. This is not surprising as the motor vehicle sector growth in India has been the highest among vehicle producing nations of the world, ACMA sources said.

 

About 65 Indian companies participated, of which more than 40 were from the southern region. Response to the fair was extremely good, said a participant. Visitors to one of the largest component fairs in the world were for the first time exposed to the widest range of components made in India.

Enquiries were received from companies both in the developed and developing markets. They include the US, Germany, UK, France, Australia, Holland, CIS, Nigeria, Indonesia, Malaysia, Greece and Israel among others.

Interestingly, companies in Turkey and the South America are said to have shown unprecedented interest in the components displayed by Indian manufacturers. Turkey has become an important market as it is part of the European Union and enjoys tariff concessions when exporting to other member countries.

Enthused by the response to the Indian pavilion, the fair authorities are thinking about bringing the fair to India in 1999. Automechanika is held every other year in Germany and, for the first time, the fair is likely to be taken to China next year

After this, the fair will go back to Germany in 1998.