ACMA to unveil a ‘First of its kind’ findings on Indian Automotive Aftermarket during the 4th partmart & AUTOCARE 2011

INVC,,,

Delhi,,

partmart & AUTOCARE 2011, the fourth focused fair on Automotive Care, Services, Components and Spare Parts organised by ACMA in partnership with CII was inaugurated today at Pragati Maidan.

Incepted in 2003, partmart & AUTOCARE 2011, has emerged as a strong platform for the automotive industry to enhance business opportunities in India’s automotive aftermarket. The growing popularity of this fair is evident with the number of participants increasing to over 50 auto component manufacturers this year.

The Chief Guest, Shri B.S. Meena, Secretary, Deptt. of Heavy Industry, Ministry of Heavy  Industries & Public Enterprises, Government of India, while addressing the gathering at the inaugural ceremony said, “Today, the Indian automotive industry is the cynosure of all – the industry, government and the consumers at large. We in the Ministry of Heavy Industries sincerely believe that the automotive industry will continue to act as a “growth accelerator” for the Indian economy. The Automotive Aftermarket is one of the most crucial dimensions of business for the component manufacturers. It should therefore not only focus on strengthening the OE segment of their business, but must also work towards “aftermarket excellence”.

Speaking on the occasion, ACMA President, Mr. Srivats Ram said “The booming domestic automotive market coupled with the rapidly growing automotive aftermarket have largely contributed to the growing demand for components in India. As per ACMA-EY Vision 2020 study, the opportunities in the aftermarket will grow from $ 4.3 billion to $ 12 billion by 2020. To tap into this potential and to strengthen the auto component industry, ACMA has conducted a comprehensive study to unravel every detailed aspect of the Indian aftermarket. The findings of this ‘first of its kind’ study will be released tomorrow.”

Mr. Arvind Kapur, Vice President, ACMA, further added, “ACMA and CII jointly with the support from SIAM, FADA and FIASPADA are emphasizing and addressing the growing need of our industry to stay informed and updated on trends through such specialized trade shows. This show is 4th in its series and is slowly emerging as a leading platform to help showcase the automotive aftermarket capabilities, potential and immense opportunities. This year for the first time we will see 17 Japanese companies participating in “Japanese Procurement Exhibition”organized by JETRO specially for ACMA members. These Japanese companies will display products they wish to procure from Indian auto component manufacturers.”

While complimenting the Government for their unstinted support to the industry, ACMA Executive Director, Mr. Vinnie Mehta said, “Counterfeit products is a burning issue and to help address this issue, ACMA is also unveiling a detailed White Paper on Legislative Improvements to Combat Counterfeit Auto Components tomorrow. This Paper will not only throw light on the extent of counterfeiting that in turn affect the manufacturer, government, consumer and every stakeholder alike but will also call for stringent measures to help strengthen Government support to combat this menace.”

The partmart & AUTOCARE 2011 will also showcase the very popular “ Asli – Naqli pavilion” that will see leading auto component manufacturers displaying genuine and fake parts. The participation by the industry has been growing rapidly with more and more number of auto components manufactures stepping in to help increase consumer knowledge and awareness on the adverse effects of using spurious auto components. This year over 16 auto component manufactures are participating like Bosch Ltd., Brakes India Ltd., Delphi Automotive Systems Pvt. Ltd., Lucas TVS ltd. and Shriram Pistons and Rings Ltd. to name a few.

The partmart & AUTOCARE 2011 show organised by ACMA in partnership with CII is being actively supported by the Society of Indian Automobile Manufacturers (SIAM), Federation of Automobile Dealers Associations (FADA) and Federation of All India Automobile Spare Parts Dealers’ Associations (FAIASPDA).

This fair will see senior people from the Vehicle Manufacturing Companies, Dealers, Distributors, Exporters, Importers, Individual buyers, Oversee Delegations, Media and other stakeholders participating in large numbers.