Significance Of Indian Automotive Components Industry

It has been a long time since India has emerged as the best auto components manufacturing nation in the world. Earlier, it was just a domestic supplier only. Rather than just being a substantial nation in the global automotive components supply chain, numerous auto component companies India also supply exceptional quality auto components to some of the world’s renowned automobile manufacturing companies.Most of the world’s leading auto manufacturing companies purchase Indian auto components to fulfill the market’s demand for genuine and quality automotive components. Recently, the Automotive Component Manufacturers Association of India (ACMA)reported that the approximate business of the automotive component industry by the year 2015-16 will be around US $40 billion.Out of which the total revenue by the year 2015-16 from exports will be around US $20-22 billion. 31% of engine parts, 19% of drive transmission and steering parts and 12% each of suspension & braking parts and body & chassis are being manufactured by the auto component companies. Commercial vehicle suppliers Delhi, Pune, Gurgaon, are the major supplier of auto parts in the world.Various actions taken by some organizations such as UNIDO-SPX assisted the Indian automotive components manufacturing companies a lot to meet the world’s leading automobile manufacturing companies by officiating many global business events like Auto Expo.This year, the auto expo was held in New Delhi, from 5thJanuary 2010 to 11th January 2010. The above mentioned organization works as a technical information provider and a match making center for the industrial subcontracting and supply chain management. It eventually helps many small and medium sized companies to reach out to the international market.Asper the Investment Commission of India, India is amongst the competitive manufacturers’ and suppliers’ in the global market. International auto component suppliers, which also includes the names of big brands such as Delphi, Visteon, and Bosch are fascinated by the Indian products and are looking ahead to purchase Indian auto components. These big brands have also established their operations in the Indian sub-continent.Moreover, India is the second major manufacturing nation of motorbikes in the world after China. The massive range of automobiles, which are being manufactured in India comprises:• Light Motor Vehicles such as Cars, MUV’s, and SUV’s.• Commercial vehicles such as light commercial vehicles, medium and heavy commercial vehicles and buses.• Tractors, earth moving cranes and construction equipment.• Two wheelers such as motorbikes, scooters, mopeds.• Three wheelers including passenger carriers and goods carriers.