While India may not be a developed industrial nation, the Auto components manufacturers in India have
progressed a great deal. When car manufacturing began in India for the common
man, a new age was launched. Millions of citizens who once owned scooters and
motorcycles can afford to buy small cars nowadays. MNCs have now set up manufacturing and assembly
plants for automobiles all over India in states like Gujarat and Karnataka, and
the future looks very bright. Three wheelers for transport services, buses, and
metro trains - all of them require hundreds of components in huge quantity.
The parent company cannot manufacture all the little parts. Small
sister companies spread out in industrial estates all over India are entrusted
with the task. Both the vehicles and the components are not only sold in India
but across the world in dozens of countries.
The turnover of the Autocomponents manufacturers in India is expected to reach US$115 billion by
FY2021. In FY2016, auto parts exports reached US$10.8 billion. The Indian auto
parts industry employs 19 million workers and creates 7% of the nation’s GDP.
Stable governments have helped and the growing purchasing power in domestic
markets. Infrastructure has developed according to increasing needs and
globalization has resulted in smarter work.
The Foreign Direct Investment in the Indian automobile industry between
April 2000 and September 2016 amounted to US$ 15.80 billion. The Indian
government’s Automotive Mission Plan 2006-2016 resulted in tremendous growth.
The AMP 2016-20126 hopes to create 50 million jobs. By 2025, the industry would become the third
largest in the world(Auto components manufacturers in India).
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