Production of Automobile Components. Auto Parts Manufacturing Industry.

Description:

Production of Automobile Components. Auto Parts Manufacturing Industry. 

Manufacturing of Engine Parts, Piston, Pin, Piston Ring, Valve, Control Cable, Engine Mounting, Auto Lock, Disc Brake, Drum, Gear, Leaf Spring, Shock Absorber, Silencer, Chain, Cylinder Block, Chassis, Battery, Tyre & Flaps

The auto-components industry accounts for almost seven per cent of India’s Gross Domestic Product (GDP) and employs as many as 25 million people, both directly and indirectly. The Indian auto-components industry can be broadly classified into the organised and unorganised sectors. The Indian auto-components industry has experienced healthy growth over the last few years. Some of the factors attributable to this include: a buoyant end-user market, improved consumer sentiment and return of adequate liquidity in the financial system.

Fastest growing major economy in the world with GDP growth rate of above 7%.A growing working population and an expanding middle-class are expected to remain key demand drivers. The growth of global Original Equipment Manufacturers (OEMs) sourcing from India and the increased indigenization of global OEMs is turning the country into a preferred designing and manufacturing base.

The auto components industry accounts for almost seven per cent of India’s gross domestic product (GDP) and employs as many as 19 million people, both directly and indirectly. A stable government framework, increased purchasing power, large domestic market, and an ever increasing development in infrastructure. India has been an upcoming hub for the auto components industry. The rapidly growing end user market, redesigned consumer sentiment and a clear liquidity in the financial system are said to be the drivers for this.

The Indian auto components industry has been experiencing a healthy growth over the last few decades. Some of the factors attributable to this include: a buoyant end-user market, improved consumer sentiment and return of adequate liquidity in the financial system.

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