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AUTO COMPONENTS

A stable government framework has led to the development of the Indian auto-components industry. Accounting for 2.3 per cent of India’s Gross Domestic Product (GDP), the sector employs as many as 5 million people, both directly and indirectly. The growing presence of global automobile Original Equipment Manufacturers (OEMs) in the Indian manufacturing landscape has significantly increased the localization of their components in the country.

The Indian auto-components industry has experienced healthy growth over the last few years. The Auto Components industry exports are currently valued at USD 14.5 bn. India is an emerging global hub for sourcing auto components. It offers a favourable scenario with a trade policy without restrictions on import-export and a 100% FDI inflow.

The auto-component industry of India has expanded by 23.9 per cent to reach a level of US$ 80 billion by 2026.

100% FDI allowed under the automatic route.

  • 2.3 %

    Share in India's GDP

  • 5 mn

    Employment generated

  • 13 %

    CAGR (over 6 years)

  • 15 mn +

    Hybrid and electric vehicles sale

  • 1

    The rapidly growing auto market in India is expected to reach $300 bn by 2026

  • 2

    Automotive aftermarket segment in India is expected to reach $32 bn by 2026

  • 3

    Auto Components industry exports to grow 5X in next 10 years

  • Exports of auto components, which are now valued at $14.5 billion in FY20, are predicted to expand at a 23.9 percent annual rate to $80 billion by 2026.
  • The $49 bn Auto Components industry in India is expected to grow to $200 bn by 2026.
  • USA, Germany, Turkey, UK, and Italy are the top destinations for exports.
  • The aftermarket segment, which includes tyres, batteries, and brake parts, is predicted to grow from $9.8 billion in 2016 to $32 billion by 2026.
  • Under National Automotive Testing and R&D Infrastructure Project (NATRIP) various facilities including passive safety labs comprising of the crash core facility and crash instrumentations including dummies were established at ICAT-Manesar & ARAI-Pune.
  • The Indian auto-components industry is set to become the third largest in the world by 2025.
  • Expanding R&D hub

    India accounted for 40% of global engineering and R&D activities
  • Emerging global sourcing hub

    Proximity to markets such as ASEAN, Europe, Japan and Korea
  • Cost competitive

    Excise duty reduction in vehicles will spur demand
  • Sixth largest vehicles manufacturer in the world

    Currently valued at $75 bn, the automobile industry is estimated to touch the coveted $300 bn mark by 2026India expected to be the third largest market by 2026
  • Favorable trade policy

    100% FDI allowed and no restrictions on import-export
  • July 2021- Lithium batteries are supplied by Waaree Energy Storage System in collaboration with Zypp Electric.
  • June 2021- As it aims to double down on India, German automotive parts supplier ZF expects to invest roughly EUR 200 million and strategically consolidate its business to promote growth over the next decade.
  • May 2021- Steel Strips Wheels bagged the export orders of worth INR 54 Crore from US and the Europe.
  • April 2021- NEI and Amsted Seals will combine their knowledge and experience to construct a Greenfield project in Jaipur, Rajasthan's Solitaire Industrial Park Bagru.
  • February 2021- VST Tillers Tractors Ltd, based in Bengaluru, has created components for an electric smart tractor built by Monarch Tractors in the United States.
  • January 2021- FCA ICT India, a new Global Digital Hub in Hyderabad, would receive a $150 million investment from Fiat Chrysler Automobiles.

  • 4.88% Share in total FDI inflows.
  • 100% FDI allowed in the sector.
  • $25.84 bn Total FDI inflows during April 2014 – March 2021.

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