Over 950 automobile and ancillary companies from 26 countries will take part in the seventh Auto Expo, slated to begin in New Delhi on Thursday.

"With the mood upbeat in the Indian economy in general and automobile sector in particular, the auto expo is expected to attract over one million visitors. It (the expo) could not have been better-timed," Subodh Bhargava, chairman (trade fairs) of the Confederation of Indian Industry, told a news conference in New Delhi.

Deputy Prime Minister L K Advani will inaugurate the expo, dubbed as Asia's biggest auto show.

Participants from Pakistan and Thailand will also take part in the event, which assumes significance in view of the Free Trade Agreement and South Asian Free Trade Agreement, he said.

The major exhibitors include Maruti, Tata Motors and Ashok Leyland, while companies which will roll out either new products or display new vehicles are Audi and Goetze.

Business delegations would come from countries like United Kingdom, Italy and Germany among others, he said, adding over one million visitors were expected to visit different pavilions during the 5-day event.

Jointly organised by CII, Association of Automobile Component Manufacturers and Society of Indian Automobile Manufacturers, the event registered orders worth Rs 2,827 crore (Rs 28.27 billion) last year, while exports stood at $7.63 million.