The Indian automotive industry is looking to spread its wings beyond the country. India is already a big exporter of cars and exports cars to markets such as Latin America and Europe. India is surrounded by some emerging countries like Nepal, Bhutan, Bangladesh and Sri-Lanka. Now with the mission of imprinting its footprints in Bangladesh, Indian auto manufacturers would be organising a motor show in February of 2017.
SIAM (Society of Indian Automobile Manufacturers) will organise the show alongside its Bangladeshi counterpart. The show would be named as ‘Dhaka Automotive show’. Four wheeler manufacturers such as Tata, Ashok Leyland, Maruti Suzuki, and Mahindra has already shown interest in this motor show. Two wheeler manufacturers such as Bajaj and Hero Motorcorp also seems interested to showcase its product range in Bangladesh.
Currently Bangladeshi automotive sector completely depends on India, Japan and Korea when it comes to car imports, as the country still doesn’t have a manufacturing base. So Indian manufacturers are looking towards our neighbours as the per capita income of Bangladesh has grown substantially over the years. Moreover Bangladeshi officials are also looking to gain some insight from the Indian automotive industry which has seen immense growth rate over the last few years.
However the Bangladeshi market is nothing new for Indian manufacturers as Tata Motors has a joint venture with Nitol motors, due to which both assembles and sells commercial and passenger vehicles. Ashok Leyland and Hero motorcorp is also setting up their plants in Bangladesh in order to capture the Bangladeshi automotive market.