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In context to the emergent market opportunities in OEMS/Aftermarket, ACMA is organising the 6th edition of iAutoConnect 2022 in physical mode (Reverse Buyer Seller Meet), a one of its kind event, from 23-24 March 2022 in New Delhi. The objective of iAutoConnect 2022 is to provide ACMA member companies a platform to showcase their product offerings and manufacturing excellence to further enhance component exports globally. The event is expected to pitch over 200 Indian Auto-component Suppliers and over 150 International Buyers, and there would be B2B Meetings covering the main sectors that include:
- Engine Components
- Electricals
- Rubber Components
- Drive Transmission and Steering
- Tyres
- Cooling Systems
- Injection Systems
- Consumables & Misc
- Batteries
- Tractor Parts
- Diesel Engine Parts
iAutoConnect 2022 is a one of its kind event which provides a platform for the Indian component industry to showcase its growing capabilities to the visiting international delegations (large aftermarket distributors/dealers ). It will be a unique opportunity for ACMA members to meet around top 150 Buyers virtually from the following regions in an online platform with elaborated features.
Benefits for Buyers
- Opportunity to meet Quality Indian Auto Component Manufacturers physically
- We will be hosting the travel and/or stay for Potential Buyers
- Pre- fixed B2B Meetings through software as per your interest
- Opportunity to visit coinciding events at same venue ( Auto-Technology Partnership Summit & Expo and EV Expo )
The 2-day engagement for the buyers will include factory visits to showcase the growing capabilities of the Indian auto component industry and also specific B2B meetings as per the buyers as well as sellers interest. A briefing session will be organized for the buyers before the inauguration and subsequent B2B meetings. The buyers will also be briefed on the event objective, program of the day, event layout and segment wise division of seller companies.
A special software is used by the organisers to co-ordinate easy communication between buyers and sellers to schedule their b2b meetings online through a portal which will schedule each meeting.
Apart from the visiting buyers, IPOs like Navistar, Paccar, General Motors, Magna and International OEMs like Gaz and Kamaz will also get an opportunity to visit the show and interact with seller companies.
The overall response from both Buyers and Sellers at iAutoConnect has always been very positive. At the last event, 97% of the Buyers gave Excellent – Good rating to the quality of the meetings held during the event. Almost 90% of Exhibitors also rated the overall event Excellent – Good. As a firsthand information, approximately, US$5.2 million worth of orders were generated during the event with more than US$9 million worth of business enquiries.
ACMA: Serving the Automotive Component Industry
The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of the Indian Auto Component Industry. Its membership of over 850 manufacturers contributes to more than 85 per cent of the auto component industry’s turnover in the organised sector. ACMA is an ISO 9001:2015 Certified Association.
ACMA’s charter is to develop a globally competitive Indian Auto Component Industry & strengthen its role in national economic development as also promote business through international alliances.
The auto component industry which spans across different geographies of the country, is a large, integrated and complex network of suppliers. Today, it contributes 2.3% of the country’s National GDP, 25% of the national Manufacturing GDP and employs over five million people. The industry is dominated by SMEs, is one of the key drivers of India’s economic growth and the ‘Make in India’ program.
The auto component industry manufactures a wide variety of products including engine parts, drive transmission and steering parts, body & chassis, suspension & braking parts, equipment & electrical parts, besides others.
The vehicle industry in India witnessed two successive years of de-growth of 14.6 per cent in FY19-20 and thereafter of 13.6 per cent in FY20-21. The economic slowdown of FY19-20 was compounded by the challenges of a pandemic led national lockdown in FY20-21 resulting in decline in vehicle production & consumption. In tandem the component industry turnover in the first quarter of FY20-21 was a complete washout, the industry regained significant ground second quarter onwards, posting a subdued performance in FY20-21 with de-growth of 3 per cent over the previous year, registering a turnover of Rs.3.4 lakh crore (USD 45.9 billion).
The sales to OEMs, in the domestic market stood at Rs.2.79 lakh crore (USD 37.7 billion), declining by 3 per cent, when compared to the previous year. Sales to OEMs in the H1 2021 had declined by 31 per cent over the first-half of the previous year, however it witnessed a healthy recovery in H2 2021.
Exports of auto components witnessed degrowth of 8 per cent to Rs.0.98 lakh crore (USD 13.3 billion) in 2020-21 from Rs 1.02 lakh crore (USD 14.5 billion) in 2019-20. Europe accounting for 32 per cent of exports, saw a decline of 4 percent, while North America & Asia, accounting for 30 per cent and 26 per cent declined 7 per cent and 8 per cent respectively.
Meanwhile, slowdown in the domestic market also reflected on imports of component into India. Component imports fell by 11 per cent to Rs.1.02 lakh crore (USD 13.8 billion) in 2020-21 from Rs.1.09 lakh crore (USD 15.4 billion) in 2019-20. Asia accounted for 66 per cent of imports followed by Europe and North America at 25 per cent and 7 per cent respectively. Imports from Asia declined by 9 per cent, while those from Europe by 13 per cent and from North America by 17 per cent.
The two-wheelers & passenger vehicles segments of the aftermarket witnessed strong recovery, revival in the commercial vehicles aftermarket was less than expected leading to an overall decline of 7 per cent in the aftermarket. The turnover of the aftermarket in FY 20-21 stood at Rs. 64,524 crore (USD 8.7 billion) compared to Rs. 69.381 crore (USD 9.8 billion) in the previous year.
The expected outlook for the FY 22, provides a glimpse of hope, with steady economic recovery and enhanced focus on vaccination, consumer sentiment seems to be bouncing back. Whilst demand seems to be returning to the automotive sector, some of the key projection for the different category of vehicles are: Passenger vehicles are expected to register a growth of 8 – 10 per cent, commercial vehicle is expected to bounce back strongly with 20 per cent growth, while the two wheelers may register 5 per cent degrowth and farm equipment & tractors may remain flat in the FY 22. In this backdrop, the component industry is expected to grow in the range of 10 – 15 per cent respectively.
ACMA’s active involvement in trade promotion, technology up-gradation, quality enhancement & collection and dissemination of information has made it a vital catalyst for the component industry’s development in India. Its other activities include participation in international trade fairs, sending trade delegations overseas and bringing out publications on various subjects related to the automotive industry.
For exchange of information & for co-operation in trade matters, ACMA has signed MoUs with its counterparts in Argentina, Australia, Brazil, Canada, Egypt, France, Germany, Hungary, Iran, Italy, Japan, Kazakhstan, Malaysia, Mexico, Nigeria, Pakistan, Poland, Russia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Taiwan, Thailand, Tunisia, Turkey, UK, USA and Uzbekistan.
