Advani inaugurates India's largest ever car show
The six-day Auto Expo 2004 began today with a special focus on facilitating tie-ups between Indian and overseas companies.india Updated: Jan 15, 2004 15:06 IST
Deputy Prime Minister LK Advani on Thursday inaugurated the 7th Auto Expo 2004 in New Delhi. The show is known as the India's largest ever car show.
The show began with a special focus on facilitating collaborations and technical tie-ups between Indian and overseas companies.
The automobile fair is spread over sprawling area over 60, 000 sqm and 21 halls and attracts participation from 960 exhibitors from 26 countries.
Major auto manufacturers from around the world like Audi, DaimlerChrysler, Ashok Leyland, Hero Motors, Hyundai Motor India, LML, Lifan Motorcycles, Maruti Udyog, Nissan, Skoda, Suzuki Motor, Volvo and Yamaha are participating in the event.
Overseas delegations from China, Iran, Israel, the Philippines, Thailand, Britain and the US will attend the expo. The car show is also likely to be attended by over one million visitors including 100,000 business people.
The exhibition is being organised jointly by the Confederation of Indian Industry (CII), the Automobile Component Manufacturers Association (ACMA) and the Society of Indian Automobile Manufacturers (SIAM).
The expo will also provide a platform for product launches and export opportunities and will bring all stakeholders of the automotive industry, both Indian and overseas, under one roof.
Analysts say the Indian auto industry, which currently contributes merely two percent of India's total gross domestic product, had the potential to grow rapidly over the next few years.
This year's expo has attracted delegations and visitors from 26 countries and will have exclusive pavilions from China, Germany, Taiwan and Britain.
This year's auto expo comes against the backdrop of a fast growing domestic customer base on the back of launch of a slew of new models, rising incomes, rock-bottom interest rates and consumer-friendly financing deals.
India's domestic passenger car sales in the April-December period, the first nine months of the fiscal year ending March 31, rose to 484,029 units from 381,462 a year earlier.
Experts say car sales in India would touch 700,000 units in the fiscal year ending March 31, registering a growth of nearly 30 percent over the previous year.