India is becoming self-sufficient in
agriculture, services and manufacturing products. According to its requirements
since decades but all these sections of development are interdependent on
transportation and automobile industries. Make in Auto component manufacturers in India strategy that is being
followed by the government made the achievement more progressive.
The growth of global OEMs and localization of
OEMs made the country a perfect place for manufacturing and designing base. OEM
stands for original equipment manufacturer. India is expected to reach the 4th
place in Auto component manufacturers in India by 2020 after China, US and Japan and third place by 2025. Since last decade,
the auto component industry in India has shown three times growth from USD 39
billion to 100 billion USD by 2016. Autocomponent manufacturers in India account a lot for this development.
The
turnover of Indian auto mobile component industry is expected to account for up
to 115 billion US DOLLARS by the financial year 2021. In 2016, India overtook
Japan for the second place in steel production and low manufacturing cost.
Indian auto component manufacturing industry accounts up to 7 percent of the
national GDP and employs over 19 million people. The domestic market is
expected to reach the growth level of 71 percent by 2021 by the competitive and
qualitative efforts of Auto component manufacturers in India.
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