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Let's go to the southern Indian city of Chennai now. That's where a five-day exhibition showcasing recent innovations in the auto industry, has just concluded.
65 countries and 428 exhibitors took part in the auto exhibition. Many international and domestic companies showcased a range of innovations, including auto components and machinery.
M. V. Robert, Convenor of Auto Component & Machine Tools Engineering Exhibition said "Tamil Nadu has become a target for the automobile hub. For example, if you see name any cars, BMW is here, Hyundai is here, Ford is here, Renault Nissan is here, and there are a lot of people coming in. So keeping that in mind, the requirement is so huge that we as an industry are more focusing to this auto components sector."
The event provides valuable marketing opportunities for auto and engineering companies. It welcomed more than 50 thousand manufacturers, importers and exporters from all over the world.
Ashwani Behl, President of Janaksons International said "That's why the reason for our coming to Chennai is to promote our machines and tell them (the companies) that this is what quality is, So we can provide them that source. So we feel it's a very big market because India, if you see all companies is making India as a big hub. Most of the major carbon…So it is very important that these machines are introduced at the earliest, so that's why we are here."
Chennai is a booming hub for international auto companies. For many foreign auto giants, including Hyundai, Nissan, BMW and Ford, India is the next growing global market. They say the Indian auto industry is set to experience significant growth in the next two to three years.
Mitsuo Taniguchi, President of Sanmei Works Company Limited said "I think now…in the automobile industry like Suzuki, Honda, Toyota is now investing a lot of money in this (Indian) market. So, I'm sure, some of our Indian…industry is interested in these machines. These machines are different from other country's machines so I'm sure the - I expect it, a couple two years, three years later, we are sure that these machine will run, a lot of machines in Indian market."
The exhibition is expected to inject around 400 million rupees into the Indian economy. Auto sector experts say most foreign countries are now interested in doing business with India.