The Indian auto-components industry has experienced healthy growth over the last few years. Some of the factors attributable to this include: a buoyant end-user market, improved consumer sentiment and return of adequate liquidity in the financial system.
The auto-components industry accounts for almost seven percent of India’s Gross Domestic Product (GDP) and employs as many as 19 million people, both directly and indirectly. A stable government framework, increased purchasing power, large domestic market, and an ever increasing development in infrastructure have made India a favourable destination for investment.
Over the last decade, the automotive components industry has scaled three times to US$ 39 billion in 2015-16 while exports have grown even faster to US$ 10.8 billion. This has been driven by strong growth in the domestic market and increasing globalisation (including exports) of several Indian suppliers.
The Indian Auto Component industry is expected to grow by 8-10 percent in FY 2017-18, based on higher localisation by Original Equipment Manufacturers (OEM), higher component content per vehicle, and rising exports from India, Asper ICRA Limited.
- Four Wheelers
- Heavy and Light Commercial Vehicles
- Construction Vehicles and Equipments
- Lubricants and Petroleum Products
- Alternate Fuel Technology (CNG, LPG, etc.)
- Auto Components
- Service Station Equipments
- Car Care
- Agriculture Vehicles and Equipments
- Electric Vehicles (Battery Operated)
- Performance Parts and Accessories Design and Modifications Insurance
- Companies and Auto Finance Power Tools