New Delhi: Canada's Automotive Parts Manufactures' Association (APMA) along with the Automotive Component Manufacturers Association of India (ACMA) organised a seminar, India-Canada Collaboration-Growing Globally in the Auto Sector, to facilitate business negotiations between India and Canada.
APMA is leading a mission to help Canadian companies benefit from the rapid growth in the Indian automotive market. It is looking at Auto Expo 2008 as a great opportunity to gather market intelligence, explore business opportunities, develop networks and identify potential partners.
Sanjay Labroo, president ACMA, said, "It's a personal achievement for ACMA to have the Canadian delegation here with us today. We have been long looking at partnering and trading with the Canadian Automotive Industry. The Indian auto industry is now recognised as a fast growing sector with huge potential. I think this is the right time for such kind of business meetings and collaborations that can create two-way investments and identify potential partners, affiliates and sources of products," he said.
Speaking on the occasion Gerry Fedchun, president, APMA, said, "Canada has a top ranked business climate, is part of an integrated North American market, has lower corporate income taxes and has a skilled and educated workforce that makes it a major automotive country. "Canada is today the world's 8th largest producer of motor vehicles, producing 2.6 million vehicles annually and employing 158,300 people directly.
The APMA delegation comprised of 17 organisations from Component Manufacturing, Consulting Engineering and Design, R&D and Testing, Education and Skills Development sub sector. Among the various business activities on the itinerary of the Canadian delegation during its India tour, were visiting India's automotive sector hubs, site visits to OEMs and leading Indian auto companies.
The Canadian delegation included companies like ABC Group Inc, Algonquin Automotive, CANMET Materials Technology Lab. Natural Resources Canada, Georgian College of Applied Arts and Technology and Aon Corporation among others. The objectives of the visiting delegation varied from exploring business opportunities, developing networks and identifying potential partners, gathering market intelligence to establishing training and education partnerships and identifying India's leading R&D organisations in automotive research.