Instead of the usual ribbon-cutting ceremony for biennial ACMA Automechanika New Delhi aftermarket trade fair, there was the digital plug-in as organizers ACMA and Messe Frankfurt India opened the two-day B2B-focussed event today. The opening comments were made by Deepak Jain, President, ACMA; Raj Manek, MD, Messe Frankfurt India, Vinnie Mehta, Director General, ACMA.
Manek said that while 2020 was among the most challenging of recent years and it was expected that 2021 would be better, the on-ground situation has dramatically changed in the past couple of months. “The core vision of ACMA Automechanika as the leading trade fair brand is to see sustainability and business continuity."
That sentiment was just what Deepak Jain began his keynote speech with: “The show must go on. In normal circumstances, it would have been held in Pragati Maidan. Unfortunately, the pandemic is spreading unabatedly in India. Thanks to the digital format becoming a new normal globally, we are able to connect differently. The aftermarket in India is probably the most vibrant and fastest growing segment in the auto industry."
The ACMA president complimented the Indian aftermarket industry for its significant advances despite challenging time. He said, “In FY2020, revenues stood at US$ 9.8 billion with a CAGR of 12 percent, while the turnover of the auto component industry was US$ 50 billion with a CAGR of 8 percent. In FY2021, all segments of the automotive industry were badly impacted but the aftermarket remained stable, which reflects its undying spirit and strong growth potential."
He added, "That apart, our exports stood at US$ 14.5 billion in FY2020 and 20 percent of this are directed at the aftermarket."
He pointed out that ACMA and SIAM are jointly working together to achieve high levels of localisation, with the overall objective to increase price competitiveness of made-in-India products and thereby become attractive to global buyers and markets.
He said that in conjunction with Messe Frankfurt, which organises Automechanikas the world over, ACMA is seeing much benefit in participating in such trade fairs in both developed and emerging markets.
Jain commended the government of India’s PLI (Production Linked Incentive) scheme which has earmarked Rs 57,000 crore to incentivise the automotive industry. It’s a move which augurs well for the automotive component industry, both for domestic as well as export operations. He remarked that globally, particularly in developed economies, the aftermarket is as significant as the OEM market.
With over 70 world-class suppliers showcasing their latest products and technologies virtually at this year’s ACMA Automechanika, focussed panel discussions and also buyer-seller meets, Jain said this is an opportunity for all industry stakeholders to connect in a virtual marketplace.
The first event of the day was a lively and information panel discussion on 'How to build a robust and sustainable aftermarket industry in India', moderated by Autocar Professional's Sumantra B Barooah. The participants were Shriram Pistons & Rings’ Ashok Taneja, ZF Wabco’s Ramachandra Puttanna, Hella India Lighting’s Ramashankar Pandey