Indian automotive component industry to touch 110 billion USD in 2020

The Times of India

According to joint report from Automotive Component Manufacturing Association of India (ACMA) and Ernst & Young, Indian auto component industry can potentially grow to over 110 billion USD by 2020, concurrent with the rising in vehicle production. Out of the estimated turnover, domestic sector is expected to contribute about 80 billion USD while exports will stand 29 billion USD.

In addition, the auto component industry would require investment of over 35 billion USD during the period with new employment opportunity for over a million people. The report told that passenger vehicle sector will grow to about 9,000,000 units while the commercial vehicle will touch 2,200,000 units annually by 2020.

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