It is analyzed from that the Auto Components Manufacturers in India has gained much growth over the last few years. The industry had expanded up to 14.3%. It is all because of the sales corner in the huge market. It aims to gain around Rs 2.92 lakh crore which is said to be as $44.90 in US currency. It was all attributed in the financial year 2016-2017.
The auto- components industry contributes to around 7 percent of the GDP and provides employment to around 25 million people of the country both directly as well as indirectly.
India is all made to be as one of the most favorable spots which have increased the purchasing power of the people and resulted in a large domestic market. A stable government framework is also made with huge development in the infrastructure sector which is continuously increasing. Hence, India has become the best destination for the purpose of investment.
As per the reviews by the Auto Components Manufacturers in India, It could be easily analyzed that India’s auto-components manufacturer company is expected to grow by around 8-10 percent in the financial year 2017-18 and to gain up to $100 billion by the year 2020. Initially, Auto Components Manufacturers in India has exports of around $11.2 billion and expected to be $80-$100 billion by the year 2026. This conclusion was based on the content of the higher component in a vehicle and the continuous rise in the exports according to ICRA Ltd.