South Asian Manufacturing Heartland Blooms with Fastener Business Opportunities
June 1 to 3 unveiled the curtain of Fastener Fair India which showcased industrial fasteners, mounting systems, warehousing and logistics services, fastener manufacturing technology and construction fasteners. Market research firms predict that India's industrial fastener market scale is expected to reach a sizeable INR 460 billion by 2023, supported in large part by local automotive and construction demand.
The automotive industry is the largest consumer of fasteners in India, and in 2022 the Indian automotive industry was one of the world's highlights, with domestic passenger car sales up by a whopping 23% to 3,792,356 vehicles, in stark contrast to the sluggish European auto market. In the context of this year's slow market recovery, the demand for automobiles and automotive fasteners in India is expected to rise again, thus making Fastener Fair India even more anticipated.
Fastener World caught this uptrend in South Asia and we took the opportunity to hand out publications at the show and introduce fastener suppliers to Indian visitors. These visitors mainly came from Mumbai and New Delhi, while others from Qatar and other countries. Most of them were looking for manufacturers, traders and wholesalers who could supply versatile screws. The high number of visitors to our booth exceeded our expectation, reflecting the high demand for fasteners in India. Fastener business opportunities are blooming there.
The next edition of Fastener Fair India will take place again at Pragati Maidan, New Delhi on 26-28 July 2024.