Context
Auto latest parts Over the last few years , the Indian auto-component industry has experienced a healthy growth. India's auto-component industry has risen by 10.6 per cent to cross US$ 56.2 billion in FY19. >>
The auto-components industry accounts for 2.3 per cent of India's Gross Domestic Product ( GDP) and directly and indirectly employs as many as 1.5 million people. A stable government framework, increased purchasing power, a large domestic market and ever-increasing infrastructure development have made India a favorable investment destination. Auto latest parts
Business size
The Indian industry of auto-components can be widely divided into organized and unorganized sectors. The organized sector supplies the Original Equipment Manufacturers ( OEMs) and consists of high-value precision instruments while the unorganized sector includes low-value products and mainly serves the category of aftermarket. auto parts
India's exports of automotive components increased by 8.34% during FY14-FY19, with the value of automotive component exports increasing from US$ 10.16 billion in FY14 to US$ 15.17 billion in FY19. best online auto parts This has been driven by strong domestic market growth and the increasing globalization of several Indian suppliers (including exports). (…)
Growth is also expected to accelerate to 8-10 per cent in FY19 due to a global pick-up scenario. advance auto parts * * Aftermarket revenue grew from US$ 5.90 billion in FY14 to US$ 10.10 billion in FY19 at a CAGR of 11.35 per cent and estimated to hit US$ 32 billion by 2026; In FY20 (April-September 2019), turnover for the automotive component industry stood at Rs 1.79 lakh crore ( US$ 25.61 billion). Exports of auto components grew by 2.7 per cent to Rs 51,397 crore ( US$ 7.35 billion) during April-September 2019. Auto latest parts
According to India's Automotive Component Manufacturers Association (ACMA), the Indian auto-components industry is expected to record a US$ 100 billion turnover by 2020 backed by strong exports ranging from US$ 80-US$100 billion by 2026. auto parts online
Investing
According to data from the Department for Industry Promotion and Internal Trade ( DPIIT), the Foreign Direct Investment ( FDI) inflows into the Indian automotive industry * during the period April 2000–December 2019 were estimated at US$ 23.89 billion. visit
The following are some of the recent investments made / planned in the Indian automotive components sector:
National Engineering Industries Ltd (NEIL) announced in February 2020 that it will invest Rs 100 crore ( US$ 14.31 million) advance auto parts near me over the next three years to produce needle roller bearings at its Jaipur facility. welcome
In January 2020, Tata AutoComp Systems entered into a joint venture with Prestolite Electric, based in Beijing, to enter the component market for electric vehicles ( EV). Auto latest parts
In October 2019, Minda Industries acquired for Rs 164 crore ( US$ 23.47 million) the German-based automotive lamp company Delvis Gmbh along with two of its subsidiaries.In August 2019, Eaton partnered with the technology company KPIT, headquartered in Pune.
Durr, a German vehicle painting and sealing company, entered into a partnership with Patvin in April 2019 to provide Indian markets with automated painting solutions for two or three-wheelers and agricultural machinery. Auto latest parts
As of January 2019, Lite Auto Components Pvt Ltd, a part of Hindustan Magnesium Products Pvt Ltd, plans to invest Rs 500 crore ( US$ 69.30 million) in Andhra Pradesh to establish a Magnesium-based manufacturing plant. >>
Schaeffler India, the Indian subsidiary of Germany's manufacturer of automotive and industrial components, plans to spend Rs 300 crore ( US$ 46.66 million) a year over FY18-19.
German automotive giant Continental has planned investments of Rs 180 crore ( US$ 25.65 million) as of December 2018 to set up a premium surface materials facility in Pune. auto parts store. The facility will have an initial capacity of five million square metres, and production is expected to commence in 2020.
IMI Precision Engineering inaugurated its second-largest production facility in the Asia Pacific region in October 2018. buy auto parts online In the next few years the company plans to broaden its product and technological offerings.
As of September 2018, Elgi Equipments, an air-compressor manufacturer, will invest Rs 18 crore ( US$ 2.56 million) to build an engine production facility in India. A commissioning of the project is planned in Q1 FY20.
