The Rise of India’s Automotive Components Industry

Today's episode of Autology is all about the rise of India’s automotive components industry. With a mammoth size of $74 billion, India’s auto components sector continues to grow at an average of 10%-11% year-on-year. While India’s automotive industry contributes about 49%-50% of the country’s manufacturing GDP, the emerging components space is a successful example of the Government’s flagship ‘Make in India’ initiative. Key factors such as strengthening export volumes and increasing localization have led the industry to achieve a trade surplus, which marks a long journey for India’s automotive supply chain that began taking shape barely 40 years ago. Narrating the remarkable growth story of India’s automotive components industry, Mr Vinnie Mehta, the Director General at Automotive Component Manufacturers Association of India (ACMA) highlights how the tier one suppliers have matured from using OEM blueprints to produce parts to now investing in own R&D operations to close the gaps. In addition, he talks about the policy framework India is laying down, with a focus on local manufacturing of semiconductors, power electronics and batteries. Tune in to this episode of Autology as we discuss the fast-paced growth of India’s automotive components industry, rising global stature, advancements in manufacturing and R&D capabilities, government support and the ongoing transition to electric mobility.

Speakers:

• Vinnie Mehta, Director General, Automotive Component Manufacturers Association of India (ACMA)
• Amit Panday, moderator and Senior Research Analyst, S&P Global Mobility.

We’d love to hear your thoughts on this episode at our autology@spglobal.com email, and you can find out much more across the autotechinsight.ihsmarkit.com website. Don’t forget to hit all the subscribe, follow and like buttons to stay on track with the latest Autology podcasts!