The auto ancillary supplier industry has closely linked
its performance with the demands of the vehicles in the auto industry. In the past few years, the auto component industry has
grown faster than the auto sector. The interesting reason behind this growth is
cutting back the dramatic duties on auto-component imports.
The Auto components manufacturers in India has the purpose of protecting the auto
industry from the high competition of component import and help in growing the
sector by providing the auto components parts at a cheaper rate. Now they have also geared up for the export market
benefitted with great incentives.
It is very important for the Auto components manufacturers in India to lower the import duties
which will boost the competition and the auto component industry will grow
drastically at both domestic and global level.
Challenges
Faced by Auto Industry
The Auto components manufacturers in India are facing some real-world challenges:
Margins
The level of margins of manufacturer companies of auto
components is prying under pressure for
unable to increase the price and facing difficulty to cut the cost.
Smooth
Infrastructure
For the smooth
running of the functional capabilities of the auto
component industry, it is important to lead the development of roads and other
infrastructure.
High
Rate of Import
It is very important to curate the higher rate of import
of auto components as compared to exports. It poses a high risk to the trade exchange.
Invest
Advanced Technology Manufacture
Many auto component manufacturers are trying to invest in
the advanced technology pattern which can be used to produce components of the
high standard. The requirement of such high-quality products is increasing.
Technical
Training Requirement
A trained environment on the technical aspect of the auto component Manufacturer in various areas like quality assurance, production management,and manpower regulation and management is required to be set up. Skilled and
well-trained manpower is required for organizing the auto component market.
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