ACMA, the apex body of the auto component Industry in India
with support of the Department of Commerce, Ministry of Commerce &
Industry, Government of India, organised the first ever reverse buyers-sellers
meet with African auto component dealers and distributors.
Present at the meet were 38 key buyers from seven African
countries including Kenya, Nigeria, Tanzania, Uganda, South Africa, Egypt and
Botswana who are keen to source automotive aftermarket components from India.
The African delegation comprised of OEMs, Auto Component Manufacturers,
distributors, importers and agents. Over 70 Indian component makers’ showcased
‘Made in India’ aftermarket products. This served as a platform for the
visiting delegation to get an insight into the growing capabilities of the
Indian auto component industry.
On the occasion, Ambuj Sharma, Additional Secretary,
Department of Heavy Industry, Ministry of Heavy Industries and Public
Enterprises, Government of India said, “The auto industry is a critical cog in
the wheel of the Indian manufacturing sector.
An initiative such as this will enable the auto component makers in
India to expand business beyond shores and harness opportunities in the fast
growing African market.”
Talking on the positive outcome of the meet Ramesh Suri,
President, ACMA, said, “According to a recent IMF report, it is estimated that
the Sub-Saharan African economy will grow by almost 6pc in 2014 which makes it
a lucrative opportunity for Indian component manufacturers to explore. Current
auto components exports from India to Africa stand at USD 714 million. The auto
component industry in India has been making continuous efforts to engage with
the African automotive industry and this event is another such endeavour for
creating new partnerships and deepening business linkages with Africa.”
Vinnie Mehta, Director General, ACMA said, “this
Reverse-Buyers Sellers meet with Africa is in line with ACMA’s Annual theme on
Globalisation. With a growing population and improved economies in most African
countries, demand and investment in the automobile industry is improving. The
overall India-Africa trade has witnessed a surge in the recent past, from a
modest level of USD 24.98 billion in 2006-07 to USD 53.33 billion in 2010-11.
Furthermore, bilateral trade between India and Africa is expected to reach USD
70 billion by 2015.”