With the objective of grooming auto component leaders of tomorrow, the Automotive Component Manufacturers Association of India (ACMA), the apex body for the Indian auto component industry recently organised a delegation for its Young Business Leaders Forum (YBLF) to Mexico.
The ACMA -YBLF is the youth wing of ACMA that comprises second and third generation scions of the auto component industry manufacturers. YBLF was instituted a decade ago to facilitate transition, succession planning and entrepreneurship development in the auto component sector in the country. Presently the ACMA YBLF membership stands at 150.
Sanjay Labroo, Past President, ACMA and Mentor-YBLF led the thirteen-member delegation of young CEOs to Mexico from April 24 to 28, 2014 to get an insight into the policy framework and investment opportunities in the Mexican automotive industry as also for an exposure to the existing levels of technology, quality, productivity and R&D in the industry there. During the visit the delegation met with some of the leading vehicle manufacturers and component manufacturers including Chrysler, Ford, Volkswagen and Bosch.
The GDP of Mexico is expected to grow at 44% annually in the ensuing few years, making it a lucrative destination for investments – opening greater opportunities for Indian players in South America. It is forecast that 3.7 million cars will be sold in Mexico by 2015. The Mexican component industry is valued at around USD 75 billion and employs more than half a million people; it is the fifth largest exporter of auto parts, worldwide which makes for a strategic intent for the Indian component industry to partner with for growth.
During the visit the delegation also attended two significant events for the component sector i.e. CIIAM and ExpoINA. More than 7000 regional and international participants from the industry and the government agencies attended the events.
