Foreign firms vie for India's automobile sector pie

18 January 2008

New Delhi: With India progressing into economic growth and witnessing an expansion of market potential, foreign companies seem to be vying for a chunk of the Indian market pie.

Clearly reflecting this phenomenon were the stalls of various countries at the recently concluded Auto Expo '08, offering a range of automotive products and accessories as the billion-plus nation has clearly become the most attractive destination for established brands in every domain and their timing could not have been more opportune.

Eyeing Asia's third largest automobile market, as many as 25 countries, including Canada, China, France, Germany, Italy, Japan, Malaysia, Spain, Taiwan, the UK and the US, showcased their products and abilities in technology at the 9th Auto Expo 2008 at Pragati Maidan in New Delhi, and targeting business deals from the growing Indian auto market.
 
Among the foreign exhibitors, for the first time, a delegation of 10 Malaysian companies is exhibiting their technology and products at the auto show. "Business deals, networking, and building relations through joint ventures are our expectations and objective in Auto Expo 2008," said Mohd Feisal Ezuan Abdul Aziz, assistant manager, product and services development division, Malaysia External Trade Development Corporation.

Pointing out that the Indian market was huge and it's potential wee-recognised all over the world, new entrants wanted to avail the opportunities it offered. Aziz stated, "We hope to explore the Indian market with our technology."

Avana Technologies (M) SDN BHD, Filton Industries SDN BHD, Hardex Corporation SDN BHD, Kumpulan Jebco (M) SDN BHD, NJ Manufacturing Industries SDN BHD, Proreka (M) SDN BHD, and BT Automotive Systems SDN BHD are participating in the Indian auto show and gathering feedback for their future business ventures.
 
On the other hand, Canada, which is taking part for the first time at Delhi's Auto Expo, is targeting the billion-plus nation market with hybrid technology and fuel cells. "We want to capture the emerging automobile sector in India with our innovative products for OEM's and car manufacturers. We are also offering services like new software development for B2B sector here", said Gurbans Sobri, trade commissioner, consulate general of Canada.

Of the 14 companies on display here, Canada's flagship company, Magna, a leading global automotive supplier had an impressive presence next to the pavilion. Gauging the booming market, it had scaled-up its stall space from 18 square metres in last Auto Expo to 180 square metres this year.