New Delhi, January 11, 2010 PTI
The seven-day Auto Expo, which drew to a close on Monday, had over 2 million enthusiasts passing through its doors to catch the buzz surrounding some of the most advanced cars showcased by global majors.
The global economic gloom notwithstanding, the show saw more new launches than any other previous edition with international firms taking the lead. A total of 25 new models were unveiled.
The success of the expo is a testimony to India’s emergence as a global manufacturing hub, Union Minister of state for Commerce and Industry Jyotiraditya Scindia said on Monday at the valedictory function of the 10th Auto Expo.
“The expo has grown from strength to strength since 1986. This year we received over two million footfalls,” Mr. Scindia said.
He said the Indian automobile market is a “relatively virgin” one with only nine cars per thousand persons as against 27 per thousand in China.
”...India is becoming an attractive destination for its low-cost design innovation and design of scale and is becoming a hub for manufacture of small cars... The Indian automobile market is growing at a CAGR (compound annual growth rate) of 30 per cent and last fiscal exports grew by 52 per cent,” he added.
Speaking at the occasion, Hero Group’s Sunil Kant Munjal said 2,105 exhibitors took part at the biennial auto show.
“In terms of product launches, this expo surpassed all the previous editions with 25 new models revealed. This is the biggest and the best show we have ever had so far. We hope this expo will be the springboard for future development of the automobile and manufacturing sector,” Mr. Munjal said.