Browse:
Last Updated: July 01, 2020
Last Updated: June, 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 grew 14.50 per cent in FY19. It 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.
(Size: 760.93 KB )Click to access the Auto Components Industry Archived Report
Browse:
Last Updated: July 01, 2020
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...
India’s journey from manufacturing zero PPE kits to two lakh PPE kits per day 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...
Self-Reliant India Movement: An opportunity 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 ...
EXPORT OF MOBILE PHONES FROM INDIA: OVER 100% GROWTH IN FY20 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...
India's largest tech FDI: Decoding the Facebook-Reliance Jio deal The technology sector in India has witnessed its largest foreign direct investment (FDI) as Facebook announced its investment in Jio Platforms, a unit of Reliance Industr...
SUSTAINABLE AGRICULTURE - TURNING TO ORGANIC AND NATURAL FARMING Agriculture and its allied sector are crucial for the development of a country, especially for India where it is the largest source of livelihood. The sector plays a majo...
Digital India: Power To Empower The global economy is presently going through the fourth Industrial Revolution, also known as the Digital Revolution. This revolution is changing not only the way we inte...
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 now. Enjoy FREE subscriptions downloads, updates and more.
Error
Already a member?
Login / Retrieve Password
GET NEWS ALERTS
