New Delhi; November 25, 2020: ACMA, under the aegis of the Ministry of Commerce & Industry, Government of India inaugurated the 5th edition of iAutoConnect 2020- International Reverse Buyers Sellers Meet. The event, organised on a virtual platform, will be a seven-day extravaganza, from November 25 until December 01 2020, connecting overseas auto component distributors and buyers with exhibitors from ACMA member companies.
Vinnie Mehta, Director General, ACMA, giving an overview of the event mentioned, “The current edition of iAutoConnect 2020 has witnessed participation from over 65 Auto Component Manufacturers while over 150 buyers from 35 countries have already registered for the event; the number of buyers is expected increase significantly as the event progresses. The event is aimed at promoting aftermarket auto component exports from India.”
Since the lockdown, in wake of the pandemic, ACMA has made concerted efforts to provide its members with opportunities for business development as also platforms to showcase their capabilities. With the Nation’s drive towards Atmanirbharta (self-reliance), ACMA through its initiatives, endeavours to build a robust automotive value chain in India that offers Value-added services to its customers in India and overseas.
Sunjay Kapur, Vice-President, ACMA, while inaugurating the event commented, “There is a swift transformation in the automotive value chains globally due to impact of Covid 19. Likewise, the industry in India was exposed to severe supply chain disruptions, however, with strong signals of revival, we are hopeful that the buoyancy of the festive season would continue in the coming months as well. It is extremely heartening that the auto component industry in India has handled the situation with great aplomb and has emerged resilient. Going forward, while there are challenges, however, I am confident that our members have the capacity and capability to become quality component suppliers to the world.”
About ACMA: The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of the Indian Auto Component Industry. Its membership of over 850 manufacturers contributes more than 90% of the auto component industry’s turnover in the organized sector. ACMA is an ISO 9001:2015 Certified Association.
The turnover of the Indian auto component industry stood at USD 49.3 billion in 2019-20, with exports of USD 14.5 billion.