The Indian Auto Component Industry Of India's Component Industry

Good Essays
The Indian automotive components industry has emerged as one of India's fastest growing manufacturing sectors and a globally competitive one. The total global auto components trade was worth INR 740,000 Crores in 2006-2007 and is expected to grow to INR 7,000,000 Crores in 2015. The auto component sector in India generated sales of about INR 60,000 Crores in 2006-07. The ACMA-McKinsey Vision 2015 document estimates the potential for the Indian auto component industry to be INR 160,000 Crores to INR 180,000 Crores by 2016. In 2006-07 automotive component exports were worth INR 11,200 Crores and expected to reach INR 72,000 Crores in 2015 (Mc Kinsey & company Inc 2013). The industry has been experiencing a high growth rate of 27 percent over…show more content…
The auto segment industry is equipped for creating excellent items requiring little to no effort. The business' drive in setting up world class shop floor practices and quality practices have helped them to be perceived as an energy to figure with in the auto segment suppliers' association. Real car organizations everywhere throughout the world are sourcing items from Indian auto part producers. The Indian auto segment producers have made their vicinity felt in all item…show more content…
The auto component manufacturing association of India (ACMA) gauges that $2.1 billion value of auto parts were delivered in the money related year 1995, out of which fares added up to $228 million. To place this in point of view, the whole Indian industry's income is approximately one-tenth that of GM's segment unit, Delphi auto systems2. In any case, the segment market has been developing quickly at around 25% a year, and is relied upon to fourfold in size by the year 2000. This development has not just been because of the developing interest for traveler vehicles, additionally because of the expanding pattern by multi-national OEM's to turn to worldwide sourcing to enhance intensity (World
Get Access