”ACMA has undertaken several such business development initiatives for the Indian auto components industry in China; the success of which has been a mixed bag,” said Harish Lakshman, President ACMA. “However, with the Chinese automotive market being the largest and the fastest growing in the world and with rising trade deficit between India and China, the Indian auto component industry, with its growing capabilities, is keen to explore prospects of exports to China.”
The delegation, supported by the Embassy of India, CCPIT and CII-Shanghai and led by Lakshman, will visit Shanghai and Chongqing. The delegation comprises CEOs of leading auto component manufacturers, the delegation would explore opportunities to engage with Chinese automotive industry.
During the four days, the delegations will interact with global and Chinese OEMs, Chinese component manufacturers, government officials and local industry bodies to update them on the growing capabilities of the Indian auto component industry as well as further business engagements between the two countries. ACMA delegation will meet CEOs and purchasing heads of leading OEMs, 2-wheelers and passenger vehicles, such as Ford, GM, Volkswagen and Lifan Motorcycles. The component manufactures which will be visited include Faurecia, Corning, TRW, Sokon among others.
In 2012-13, China exported auto components worth $2.4 billion to India while Indian companies exported only $203 million to China.”
Given the poor domestic market condition, auto component industry has been focussing more on exports.
