India’s
auto component industry accounts for 7.1% of the national GDP and contributes
49% to the manufacturing GDP of India. Indian auto components market is gearing
towards greater localization and players are looking to increase their presence
in used cars, aftermarket, and export segments. Recent policy-level initiatives
like Make in India, NEMMP 2020 & PLI have presented an opportunity to the
ACM segment entities for growth and movement up the value chain. New offerings
like automatic transmission systems are witnessing growing demand and EVs are
expected to disrupt the market for engine components. Strategies mainly
focusing on technology upgrades, standardization, and integration across the
automotive value chain will help suppliers grow in the current market
Presenting
a quick snapshot below!