ACMA, the apex body of the Indian component manufacturing sector, is hosting iAutoConnect 2016, a global buyer-seller meet in New Delhi from October 6-7.

This two-day buyer-seller meet is part of ACMA's initiative to target more export opportunities for the Indian automotive component industry. The Indian component sector contributes 25.6% to the country's manufacturing GDP and 2.3% to national GDP.

Around 145 international auto component distributors from 45 countries are attending iAutoConnect 2016, the first of its kind event in the country. The buyer-seller meet also sees 180 ACMA members who are exhibiting their latest range of products and services and will also aggressively network with the foreign business visitors. The comprehensive display of made-in-India components is to give international delegates an insight into the domestic auto component industry

iAutoConnect2016 was inaugrated by the chief guest Pravin Aggarwal, director, Department of of Heavy Industry, government of India. 

ACMA says it has arranged over a 1,000 buyer-seller meetings today. Tomorrow, the visiting delegates are to be taken on plant visits to some award-winning companies including Talbros Automotive Components, UNO Minda, Allied Nippon, Abilities India and some other leading players.

The foreign delegates' visit to Indian suppliers' plant is to help them become familiar with the technological and ethical standards followed by Indian suppliers.

Speaking at the inauguration of iAutoConnect 2016 today, ACMA president Rattan Kapur said: “In a study conducted by ACMA and Frost & Sullivan, it was found that export opportunities for Indian component makers in African, Latin American and CIS counties are worth $41.6 billion. This constitutes a huge export opportunity for Indian suppliers.”

ACMA vice-president Nirmal K Minda added, “Auto component exports from India have increased to 167 countries from 160 countries. This will help us to reach out to even more countries and primarily benefit SMEs. We hope that iAutoConnect2016 helps us to reach out to more countries and strengthens business linkages." 

Vinnie Mehta, director-general, ACMA, said: “We strongly believe that iAutoConnect is a great global platform for participants to showcase their strengths and capabilities. The great response from international buyers to iAutoConnect2016 is proof of the growing credibility of Indian-manufactured auto components." 

Given the strong response to the first edition of iAutoConnect, ACMA has decided to make it  to be an annual event. The second edition is to be held from October 11-13, 2017 in New Delhi.

Meanwhile, news has come in that G Valadmir, director of the Association for Kazakhstan Auto Business, has signed an MoU for collaboration for new opportunities at iAutoConnect 2016.