Commerce Dashboard
Auto Components
India is expected to have the fourth largest auto components industry by 2025.

Indian Auto Components Industry Analysis

    Last updated on Sep, 4 2020

Over the last decade, the automobile components industry has registered a CAGR of 10.06 per cent and reached US$ 56.52 billion in FY19, while export grew at a CAGR of 8.34 per cent during FY14-FY19 to touch US$ 15.17 billion in FY19. The auto components industry accounted for 2.3 per cent of India’s Gross Domestic Product (GDP) and 25 per cent to its manufacturing GDP, providing employment to 50 lakh people in 2018-19.

Automobile component industry’s revenue stood at US$ 56.52 billion in FY19, up from US$ 35 billion in FY14. As per Automobile Component Manufacturers Association (ACMA), automobile component export from India is expected to reach US$ 80 billion by 2026. The Indian auto component industry aims to achieve US$ 200 billion in revenue by 2026. Turnover of automotive component industry stood at Rs 1.79 lakh crore (US$ 25.61 billion) in FY20 (till September 2019) and export of auto components grew 2.7 per cent to Rs 51,397 crore (US$ 7.35 billion) during same time.

India’s automobile industry is the world’s fourth largest. India was the world's fourth largest manufacturer of cars and seventh largest manufacturer of commercial vehicles in 2019. Indian automotive industry (including component manufacturing) is expected to reach between Rs 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. Indian automobile industry received Foreign Direct Investment (FDI) worth US$ 24.21 billion between April 2000 and March 2020.

Domestic automobile production increased at 2.36 per cent CAGR during FY16-FY20 with 26.36 million vehicles being manufactured in the country in FY20. Production of two wheelers, passenger vehicles, commercial vehicles and three wheelers reached 21.03 million, 3.43 million, 0.75 million, and 1.13 million, respectively, in FY20.

Automobile export is expected to grow at a CAGR of 3.05 per cent during 2016-2026. The Government of India expects automobile sector to attract US$ 8-10 billion in local and foreign investment by 2023.

Indian Auto Components Industry Report (August, 2020)
Download PDF Download PDF  (Size: 528.25 KB )

Click to access the Auto Components Industry Archived Report

Auto Component India

Auto Component Clusters
Auto Components Clusters in India

 

Posters

Brand India Pharma

COMPONENTS OF QUALITY

India is emerging as the world's hub of choice when it comes to manufacturing quality auto components. The industry has over 600 manufacturers who exc...

+ More >

Brand India Pharma

IBEF Publications

IBEF Publication

Agri Export Policy - Towards smoother trade, wider global presence

English

+ More Publications >

IBEF Publication

IBEF Blog - INDIA ADDA – PERSPECTIVES ON INDIA More

author_logo-ibef1.jpg An analysis of export preparedness Index by NITI Aayog
IBEF, Knowledge Centre

India is a vast and geographically diverse country with 28 States and 8 Union Territories (UT). India plans to become a US$ 5 trillion economy by 2024 and th...

author_logo-ibef1.jpg Major changes announced in the National Education Policy 2020
IBEF, Knowledge Centre

On July 29, 2020, Union Cabinet approved the National Education Policy (NEP) 2020, which is the first education policy of the 21st century and has replaced the...

author_logo-ibef1.jpg Immunity Boosting Products – Renewed focus during COVID-19 crisis
IBEF, Knowledge Centre

The world is going through an unprecedented crisis with COVID-19. Scientists are working aggressively to find vaccine for the disease. In the meantime, the solution is to...

author_logo-ibef1.jpg India’s journey from manufacturing zero PPE kits to two lakh PPE kits per day
IBEF, Knowledge Centre

India was manufacturing nearly zero PPE kits until January 2020. It was manufacturing only medical gowns, which was just one of the components of the kit, whereas, no PPE...

author_logo-ibef1.jpg Self-Reliant India Movement: An opportunity
IBEF, Knowledge Centre

At a time when the world is suffering from a deadly pandemic, India plans to convert this crisis into an opportunity and strengthen its fight by becoming Aatmanirbhar or ...

author_logo-ibef1.jpg EXPORT OF MOBILE PHONES FROM INDIA: OVER 100% GROWTH IN FY20
IBEF, Knowledge Centre

Smartphones market in India have witnessed a phenomenal growth in the past few years. India overtook the United States (US) to become the second-largest smartphone market...

ideas More

Ideas

Zomato: Top Of The Food Chain
Zomato, an Indian start-up is in the business of online food ordering. It initially launched Foodiebay.com in Gurugram in 2008, a website that scanned menus and provided ratings and recommendations on....

JOIN IBEF.org

Join IBEF.org now. Enjoy FREE subscriptions downloads, updates and more.

Error

Already a member?
Login / Retrieve Password