Industry & Economy
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Automobile Components
28 Indian component cos taking part in Teheran auto show
Our Bureau
New Delhi
,
June 9
THE Automotive Component Manufacturers Association of India (ACMA) is organising a strong contingent of 28 companies to exhibit their technology and products in the Tehran International Auto Fair scheduled to be held in Teheran, Iran, from June 20 to 24.
The automotive sector in Iran has been growing at a robust rate of 27 per cent annually while the passenger car segment, specifically, has been growing by an average of 30 per cent. Iran has 13 vehicle makers and 25 two-wheeler manufacturers, which is supported by their domestic component industry. According to the ACMA, the component industry in Iran is in the development phase and is looking at India as a senior technology partner. This is likely to open up many opportunities for Indian component manufacturers for setting up joint ventures and technology collaborations in Iran, thus making India a technology "giver" and offering Indian companies to expand their manufacturing footprint to the potentially large West Asian market.
Companies participating at the fair include Amul Industries, Emkay Automobile Industries, Goetze India, IP Rings, Kirloskar Oil Engines, Lucas-TVS, M&M Auto Industries, Minda HUF, Omax Autos, Shriram Pistons & Rings and Sundaram Brake Linings Ltd.
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