The Automotive Component Manufacturers Association (ACMA), the apex body of the Indian auto component industry has kicked off the first-ever edition of the India-Bangladesh Auto Components Show 2022 in Dhaka.
The industry body says the component manufacturers from India are eager to strengthen their presence in Bangladesh as it is a fast-growing market and provides a conducive environment for trade to flourish.
The India-Bangladesh Auto Components Show 2022 witnessed participation from over 20 ACMA members, and the event is supported by the Department of Commerce, Ministry of Commerce & Industry, government of India, High Commission of India, Dhaka, Bangladesh, Bangladesh Automobile Assemblers & Manufacturers Association (BAAMA) and India-Bangladesh Chamber of Commerce and Industry (IBCCI).
Vinnie Mehta, director general, ACMA said “We are indeed very encouraged to witness the wider acceptance of Indian auto components in Bangladesh. ACMA members, here, have showcased the latest technologies adapted and ready to be delivered to the fast-growing needs of this region. The event has paved the way for successful partnerships and tie-up opportunities between the automotive industries of our nations with bright prospects of business.”
Vikram Doraiswami, High Commissioner of India said, “The road to regional progress and prosperity runs through the success of our (India-Bangladesh) partnership in the automobile industry.” He underscored the excellent bilateral relations shared between India and Bangladesh, one of the key drivers for the future of which he said, is the process of realizing the enormous latent economic potential of the relationship.
Doraiswami appreciated the new Automobile Industry Development Policy of Bangladesh and conveyed the keen interest of the Indian auto component industry in expanding collaboration with their Bangladesh counterparts through Joint Ventures, Technical alliance and Partnerships. He added that collaboration in the automobile and auto component sector can significantly elevate the bilateral economic partnership, as the auto industry is a driver of personal mobility, personal choice, improved logistics for trade and investment and for the development of precision manufacturing industry.
Earlier, two successful editions of the Indo-Bangla Automotive Show were organised in 2017 and 2019 in Dhaka, Bangladesh by the Auto Component Manufacturers Association (ACMA) jointly with the Society of Indian Automobile Manufacturers (SIAM) in which several vehicle and auto component manufactures had participated.