Around 100 Indian companies will exhibit at Automechanika Dubai 2017, the largest international automotive aftermarket trade show in the Middle East, scheduled to be held from May 7-9, 2017 in Dubai.
EEPC India and the Automotive Component Manufacturers Association of India (ACMA) will showcase India's strengths in the auto components sector with the India Brand Equity Foundation (IBEF) being the branding partner for India's participation at the event.
The Indian presence is under the Brand India Engineering campaign, an initiative from the Department of Commerce.
The brand campaign aims to improve and increase awareness about Indian engineering products and services in international markets. India is the Country Pavilion Partner at Automechanika Dubai 2017.
Over 30,000 professionals from over 130 countries are expected to attend the Exhibition being held at the Dubai World Trade Centre. More than 2,000 exhibitors will showcase their products at the 15th edition of the exhibition which covers six areas of the auto components industry, namely, parts and components, electronics and systems, repair and maintenance, tyres and batteries, accessories and customising and car wash, care and reconditioning.
Already exporting to over 160 countries, Indian auto components exports are expected to reach USD 70-80 billion by 2026. The exports from the industry registered a strong compound annual growth rate (CAGR) of 14% during 2006-16, increasing from USD 3.2 billion to USD 10.81 billion during the next ten-year period.
"Backed by favorable government policies, conducive factors such as geographical proximity to key automotive markets like the Middle East and Europe, enhanced manufacturing capabilities and highly skilled engineering manpower, the Indian auto component industry is globally competitive and has emerged as strong exporter of auto components," said Mr. Bhaskar Sarkar, Executive Director & Secretary, EEPC India.
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"India being a cost effective hub for manufacturing high quality auto components, is fast emerging as the preferred global sourcing base. The Indian auto component sector today produces a wide range of high-value precision components for almost all global automotive majors and tier-1s," said Mr. Vinnie Mehta, Director General, ACMA.
The Indian auto component industry boasts of 16 Deming and two Grand Deming Awardees, the highest outside of Japan. Further, enhanced sourcing from India by original equipment manufacturers (OEMs) and tier-1s for global markets and increased localisation by OEMs invested in India, is also turning the country into a preferred engineering and product designing hub, especially for emerging markets.
The auto-components industry accounts for almost 4% of India's GDP and employs 1.5 million people, directly and as many indirectly. Increased investments in engineering, R&D and new product development, are expected to further boost India's position as a leading supplier for the global industry.