SIAM signs pact with KAMA for promoting auto industry

New Delhi: Auto industry body SIAM on Wednesday said it has signed a pact with Korea Automobile Manufacturers Association (KAMA) for cooperation and support in promoting a sustainable, safe, clean, affordable and efficient automobile industry.

An MoU to this effect was signed between Society of Indian Automobile Manufacturers (SIAM) and KAMA during an event in Mumbai, SIAM said in a statement. The two organisations will set up regular information exchange mechanism to maintain their cooperative dialogues and deliberate on issues on the subjects of their common interests, it added.

Commenting on the partnership, SIAM President Rajan Wadhera said in context of the auto sector, ties between India and South Korea can be traced back to 1996, when Hyundai Motors entered the Indian market. Indian manufacturers, like Tata Group and Mahindra & Mahindra, have made significant investment in Korea's auto industry till date, he added.