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Auto Components

Saturday, March 14, 2015

The automotive component industry is an important sector of the Indian economy and a major foreign exchange earner for the country. The automotive component industry manufactures a wide range of parts including castings, forgings, finished, semi-finished components, assemblies, and subassemblies for all types of vehicles products. The Indian auto component industry is one of the country’s rising industries with tremendous growth prospects. From a low-key supplier providing components exclusively to the domestic market, the industry has emerged as one of the key auto components centres in Asia and is today seen as a significant player in the global automotive supply chain. The total market size of the auto-components industry is estimated at over Rs 700 bn. The industry estimates that the Indian components industry will grow to over Rs 950 bn. The overall investment in the components industry is estimated at Rs 288 bn. The sector is composed of 500 medium and large players, besides over 5,000 units in the small scale sector. There are 50 leading companies in the organized sector, which account for a major share of the total output. The number of items produced exceeds 25,000. The Indian auto component industry is expected to register a turnover of US$ 66 billion by FY 15–16 with the likelihood to touch US$ 115 billion by FY 20–21 depending on favorable conditions, as per the estimates of Automotive Component Manufacturers Association of India (ACMA). Having gained global recognition, the Indian auto components industry exports are placed at around USD 3.25 bn. The exports crossed the Rs 10 bn mark in 1996-97 and have progressively risen to a level of Rs 145 bn in 2007-08. The decade of the 1990s clocked an impressive annual growth rate of about 20% for the industry. Owing to improved performance by the auto industry in the domestic market as well as on the export front, the overall production jumped to Rs. 216 bn (a growth of nearly 21%) in 2001-02. Maintaining the tempo, the auto components segment touched an estimated output of Rs 716 bn in 2007-08.

Source: NPCS Team

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