Auto component production likely to rise 12-14% in FY19, says study

The growth of global OEM sourcing from India and the increased indigenisation of global OEMs is turning the country into a preferred designing and manufacturing base

Auto component production in 2018-19 is expected to increase by 12-14 per cent in this fiscal year, aided by robust growth in domestic and export markets. Exports of automobile components from the country were valued at $13.5 billion in 2017-18 (FY18). According to the forecast by the Automotive Component Manufacturers Association of India, exports will surge to $80 billion by 2026. The domestic auto components industry expects to register revenues of $200 billion by then. Revenues in the auto components industry have risen at a CAGR of 6.83 per cent, growing from $26.44 billion in 2007-08 to $51.20 billion in