Malaysian Auto-Parts Makers Seek Indian Partners

By P.Vijian CHENNAI, Nov 29 (Bernama) -- A group of Malaysian auto-parts makers are scouting for Indian partners to export products for the country's burgeoning automobile sector. At least five vendors are exploring prospects in two major Indian cities, Chennai (Tamilnadu), an emerging hub for global auto producers, and Pune in Maharashtra, to market their auto components. "Malaysian companies are looking for market opportunities in India and also the right partner for joint ventures. "Malaysia has quality auto products, while Indian companies are looking for other (sourcing) options and this is a good sign," Chennai-based Malaysia External Trade Development Corporation (Matrade) Commissioner, Shah Nizam Ahmad told Bernama. The companies were on a specialised marketing mission for automotive parts and components to the two Indian cities from Nov 23-25. Meanwhile, Mumbai-based Matrade Commissioner, Noraslan Hadi Abdul Kadir said the companies had managed to secure potential sales of RM18.8 million (US$1=RM3.18) in both cities. "Malaysia has the technology and what our companies need are local partners to export to the Indian market or even set up production here," he added. India's auto component industry is estimated at nearly US$40 billion (RM120 billion), driven by the sharp rise in demand for passenger cars and utility vehicles. --BERNAMA