Automotive component manufacturers Association (ACMA) of India (north region) has organised the first ever auto component buyer-seller business meet and exhibition which will conclude on Saturday. The meet was inaugurated by LD Mittal,Chairman,International Tractors Limited. Rattan Kapur,Chairman ACMA (north region) and MD,Mark Exhaust System Limited said,The recent global recession has accelerated the transformation of the automotive industry by shifting the centre of gravity to the east. In the recent study conducted by Ernst and Young,it is indicated that the Indian auto component industry has the potential to grow from its current level of $26 billion to almost $110 billion by 2020,said Kapur. He also shared the challenges which are being faced by the auto component industry in order to reach to this level. Mittal told that he started his company with a turnover of Rs 5,000 which has now grown to Rs 5,000 crore. A total of 36 companies are exhibiting their products and the participants include: International Tractors Limited,Honda Siel Cars,Maruti Suzuki etc.
