How India's Automotive Component Industry is Shaping the Global Market
India’s automotive component industry is a driving force in the global market, characterized by robust growth, innovation, and an expanding international footprint. With a blend of technological advancements and strategic partnerships, Indian component manufacturers are significantly influencing the dynamics of the global automotive landscape. The Growth Trajectory of India's Automotive Component Industry India's automotive component industry has seen remarkable growth over the past decade. According to the Automotive Component Manufacturers Association of India (ACMA), the sector's turnover reached $57 billion in FY2023, reflecting a substantial contribution to both domestic and export markets. Several factors contribute to this growth: Cost-Effective Manufacturing : India offers a competitive edge in manufacturing costs due to its skilled labor force and efficient production processes. Diverse Production Capabilities : Indian manufacturers produce a wide range of compon...