The 9th Auto Expo, the country’s largest automobile industry show, started today with the participation of around 2,000 companies from various sectors of the automobile industry.
Organized by Auto Component Manufacturers Association (ACMA), Confederation of Indian Industry (CII) and Society of Indian Automobile Manufacturers (SIAM), the expo will have a participation of 51 vehicle manufacturers and over 1,900 auto component, accessories and other manufacturers.
"The expo will have the largest-ever international participation of 27 countries," said Sanjay Labroo, president, ACMA, while speaking at the curtain-raiser for the event today.
Apart from companies, participants will include representatives from the Society of Vehicle Manufacturers and Traders, UK and the Japan Automobile Manufacturers Association (JAMA).
While giving an overview of the automobile industry, Ravi Kant, president, SIAM, said the automobile sector's turnover is expected to touch $145 billion in 2016 from around $44 billion now. The automobile sector's share in India’s GDP would increase to 10% in the next eight years when compared with 4% now.
Asked about the outlook on vehicle sales, Kant said an increase or decline in sales will depend on new launches. "Last year saw an increase in sales because a lot of new cars were introduced," said Kant.
First-time participants in the expo this year include Australia-based Asia Motors, Japanese commercial vehicle and truck manufacturer Isuzu Motors and Swedish luxury car manufacturer Volvo.