The fifth edition of iAutoConnect 2020, international reverse buyers sellers meet organised by ACMA under the aegis of the Ministry of Commerce & Industry, concluded successfully on December 1.
Held on a virtual platform, the seven-day extravaganza helped the exhibitors to connect with overseas auto component distributors and buyers from several countries.
Over 307 international auto component aftermarket distributors from around the world participated in the event while over 65 Indian component manufacturers displayed their products. The Indian manufacturers displayed their excellence in manufacturing, supporting the ‘Make in India’ vision of the Government and the drive towards atmanirbharta (self-reliance), said a press release issued by ACMA. .
International auto component aftermarket distributors from ASEAN, Middle East, Africa, SAARC, and Europe were among the visitors at the event. Many leading IPOs such as Navistar, Paccar, AAM, BMW, COBO, Mercedes Benz, Cummins and Ford were also among the active business visitors.
The global trade in auto component in 2019 has been estimated at $1.3 trillion, of which nearly 50 per cent is in aftermarket components. ACMA’s iAutoConnect 2020 was organised to help the Indian auto component manufacturers gain global exposure by showcasing their manufacturing capabilities and products to dedicated international buyers.
Commenting on the success of the event, Mr. Deepak Jain, President, ACMA, said, “This year, we have braved many uncertainties and emerged more resilient and confident which was amply reflected in the enthusiasm of the members participating at iAutoConnect 2020. In its fifth year, iAutoConnect is now well established as a key global networking platform for domestic component manufactures and international buyers. I am confident that initiatives such as these will help our industry become a net exporter in not too distant a future.”
Mr Vinnie Mehta, Director General, ACMA, said, “Despite the challenges, we concluded a highly successful edition of this year’s virtual iAutoConnect,. We saw a tremendous response from the international buyers, which is testimony to their growing interest and confidence in India as a global automotive manufacturing and sourcing hub.”