Industry pins revival hopes on Auto Expo
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The automotive industry is betting big on the ensuing Auto Expo 2014 - to be held in New Delhi early February, 2014. Given the long slowdown, industry bodies such as SIAM and ACMA, along with CII, are working hard to ensure to ensure greater participation of global OEMs as well parts manufacturers to make India a global powerhouse of auto industry going forward, said Vikram S Kirloskar, president, Society of Indian Automobile Manufacturers (SIAM), the apex body of auto OEMs in India and vice-chairman of Toyota Kirloskar Motor.
"We are more focussed on this auto show to create huge excitement for all stakeholders. The past 12 to 15 months were the worst ever period for the Indian automotive industry and touched the near bottom of slowdown. Despite the challenges, we have decided to make the event big, which would certainly bring back the past glory and will ensure the Indian industry a CAGR growth of 15% to 17% over the next 10 to 15 years," Kirloskar pointed out.
According to Vinod K Dasari, vice-president, SIAM and MD of Ashok Leyland, "All the participating OEMs in the auto show will showcase new products as well as their innovations. Everyone believes that this is the best time (auto expo) to launch new products to prove that downturn in no way affects innovations and new launches. It is time to revive the industry's strong growth momentum and we strongly believe the ensuing auto expo will give us necessary push."
Nearly 1,200 auto component companies, including 300 from countries such as China, Korea, Taiwan, Korea, the UK, Canada, Germany, Japan, Italy, Austria, Poland, Netherlands and Dubai will be exhibiting their products as well set up their country pavilions at Pragati Maidan between February 6 and 9.
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