Indian auto parts makers see opportunities aplenty
Ayush Jain, managing director of Delhi-based automotive component manufacturer Kube Autotech Pvt, had no idea about the growing aftermarket sales in Bangladesh.
Participating at a daylong "India-Bangladesh Auto Component Show" at the InterContinental Dhaka in the capital yesterday opened the doors to many possibilities for him.
Kube Autotech has been supplying brake shoes to 15 two-wheeler makers in India for the past 25 years.
"I concentrated on the local supply in India as the market is very big and has over a dozen two-wheeler manufacturers. So, I did not think about export," said Jain.
He sees a bright future for exporting goods to Bangladesh, saying that a number of auto component retailers had contacted him showing interest in directly importing goods.
The fair, jointly organised by the Bangladesh Automobiles Assemblers and Manufacturers Association (BAAMA) and the Automotive Component Manufacturers Association of India (ACMA), showed prospects to others too.
Himanshu Chhabra, deputy manager of Makino Automotive, India, said he provided all kinds of wheel solutions and provided supplies to all two and three-wheeler makers in India.
He said Makino Automotive has been exporting aftermarket components to Bangladesh for over a decade and they have two distributors who import components worth crores of taka per year.
"We want to expand the market in Bangladesh and it is possible…the market size is growing rapidly as more vehicles are being purchased by the people of Bangladesh than before," he said.
The growing demand for aftermarket auto components is noticeable due to the increasing number of automobiles, he said.
He, however, was yet to take a decision on whether he would manufacture his products here.
Anshul Khari, senior manager (export) at Minda Corporation, said they participated in the fair to explore the market in Bangladesh.
He said a number of had people contacted him, showing interest in importing components to Bangladesh.
Market exploration was also in the mind of Abdul Hussain, export sales manager of Mumbai-based auto component manufacturer AECO Engineering Company.
Talking to The Daily Star, Abdul Matlub Ahmad, president of the BAAMA, said the aim of the fair was to generate interest in both foreigners and locals in investing in manufacturing auto components in Bangladesh.
"It's important to move locally to produce automobile components to make the country's transport sector dynamic. And now it is the best time to start," he said.
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