BANGALORE: These are the most exciting times for the Indian industry and the component industry after the slowdown, said Arvind Kapur, VicePresident, Automotive Components Manufacturers' Association (ACMA).
He said there was a rebound in the manufacturing associations and 65 per cent of the automotive industry was because of the component industry, he added and said, according to a survey by the ACMA for 201011, 2.7 million passenger cars, 12.5 million twowheelers and 0.5 million commercial vehicles will be sold.
He was speaking at the inaugural function of IMTEX 2011, a machine tool exhibition by the Indian Machine Tool Manufacturers' Association (IMTMA).
The exhibition will be held in the city till January 26 at the Bangalore International Exhibition Centre.
IMTMA is also holding a fair, Tooltech 2011 the 13th international exhibition of cutting tools and tooling technology. IMTEX 2011 features over 800 exhibitors and 750 machines.
Arun Maira, member of Planning Commission, said unfortunately the manufacturing sector did not have a job and it was jobless growth.