India is one of the accelerating
countries in the field of automotive. The recent growth in the field of auto manufacturers took India to a new level of automation. India is going to become
4th largest manufacturing company globally.
At present India is the primary
option as a vendor company for the globally dominating company in term of auto
components. The main reason behind it was the supply of the components at low
cost as compared with other countries. It’s because of the presence of the
low-cost labor in India.
Most of the well-known companies
are connected with the Indian vendor companies for auto components. The major Auto Component manufacturers in India and are going to
join top 100 auto companies globally are- Bharat Forge, Motherson Sumi System,
Sundram Fasteners, Bosch India and Sundaram Clayton. The other known Auto component manufacturers in India are Exide, Dunlop, Ceat, Bharat Seats, JBM
group, AVTEC, Lucas TVS, MIL, Anand, Sona Koyo Steering systems Limited etc.
It is expected that 26 percent of
the market will be exported by 2021. It makes up to 7 percent of India’s
GDP. In the last decade, India accounts
up to 3 times more export than before.
Summary: -
Thus it is concluded that the
auto component manufacturers in India play a vital role in the growth of the
country along with the auto industry. All the globally known automobile
companies depend on the Indian vendor companies to provide automobiles at
pessimistic cost.
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