A delegation from the Engineering Export Promotion Council of India (EEPC India), comprising of around 10 Indian automobile components’ companies, is participating in the Autotech 2018 exhibition, which will be held at Cairo International Convention Centre from 14-16 December 2018, according to a Wednesday statement.
The Indian companies will showcase India’s original equipment manufacturers’ (OEM) capabilities at the ‘Autotech 2018’ exposition, explore Egyptian and North African markets, and identify areas of mutual cooperation, said the statement.
The Indian auto-components industry is set to become the third largest in the world by 2025, noted the statement, adding that the exports from this sector grew by 23% in the fiscal year (FY) 2017/18.
Higher localisation by the OEM, higher component content per vehicle, and rising exports from India would be the key growth drivers for the industry, which is projected to register a turnover of $100bn by 2020. Exports of these products are likely to range between from $80bn to $100 bn by 2026.
Egypt has traditionally been one of India’s most important trading partners in the African continent, mentioned the statement, noting that during the FY 2017/18, bilateral trade between India and Egypt was to the tune of $3.68bn.
India is Egypt’s 10th largest trading partner, 7th largest importer of Egyptian goods and the 11th largest exporter to Egypt, affirmed the statement.