Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has organised a 50-member delegation, which is visiting India from Saturday (today) on an investigative tour to study the Indian Automotive Industry. The Delegation is being led by its Chairman Syed Nabeel Hashmi and Vice Chairman Munir K. Bana.
During the visit PAAPAM delegates will also attend the Bi-annual AUTOEXPO show being held at the Pragati maidan in New Delhi. The delegation is part of the Associations overall "OUTWARDLOOKING" strategy to introduce its members more to the international markets and build up their businesses keeping in view the global economies and scales. PAAPAM Chairman Hashmi told Business Recorder that Pakistan's automotive industry recorded an overall turnover of $1 billion in 2010-11. Auto parts exports were over $100 million. Productions of Cars crossed 162000, Motorcycles 1.8 million and Tractors 65000.
He said AUTOEXPO New Delhi is an important part of the Indian auto sector and our Pakistan delegates shall have ample opportunity to see their own Indian counterparts and study their products. We are looking forward to develop B2B contacts and also analyse joint venture and technical collaborations for high tech auto parts manufacturing in Pakistan, Hashmi, added.
He said our initial targets, however, are to see if we can benefit from competitive raw materials and machinery that may be procured from India. We prefer technology based trade rather then just finished goods coming into Pakistan. Pakistan's domestic market is highly import based and estimated to value over $1.2 billion.