“A delegation of Automotive Component Manufacturer’s Association (ACMA) visited Hungary on 5th February 2019. During their stay they had a meeting with H.E. Ambassador Kumar Tuhin at the Embassy of India. Then the delegation visited the Hungarian Parliament and had a meeting with Mr. Péter Cseresnyés, President of the Hungarian-Indian Parliamentary Friendship Group, followed by a guided tour in the building. Thereafter, they had a B2B Meeting organized at the Hungarian Investment Promotion Agency. On this occasion the delegation also signed a Letter of Intent with the Hungarian Automotive Component Manufacturers Association.” (Embassy News)
A “Networking Seminar” took place at the Budapest’s Marriott Hotel organized by the India Embassy ended the day with the presence of H.E. Ambassador Kumar Tuhin – Embassy of India, Parliamentary State Secretary at the Ministry for Innovation and Technology – Péter Cseresnyés, Dénes Szabó -Major of Nagykanizsa and a body of 10 professional leaders from Automotive Component Manufacturers Association of India (ACMA). The auto component leaders of tomorrow said the automotive market is witnessing rapid technological transformation, therefore to fulfill further required needs, their visit is looking for technological whereabouts, where both countries can implement. At the meeting was present the major of Nagykanizsa, who talked about the possibilities and the intellectual capacities of the region. It was also said by president of ACMA Mr.Ram Venkataramami their study visit to Hungary is mainly collecting market data and the whereabouts in the territory of Hungary to assess the possibilities to establish a base for ACMA here in Central Europe where in the future production of the required components are feasible. Also added that in Hungary, Poland and Slovakia gaining overall information will be forward to the 633 members to the association and they will evaluate and decide on the future. It was also said to keep in mind that in a little over a decade or two from now digital technologies will make up hold the value of an automobile. Mechanical complements will give way to electrical, electronic and digital systems presenting new opportunities to both incumbents firms and new entrants. The consumer will ultimately benefit with a range of choices hitherto unseen in the industry…Exciting times are ahead.
Beside visiting Hungary, the group had visited in the same theme Poland and will head from Hungary to Slovakia to assess the opportunities.
Update and snaps Aggie Reiter
Rolling in Budapest 