India's auto parts companies eye a bigger share of the export market

Automotive (auto) component companies see a new opportunity to increase their exports manifold — if India signs a bilateral agreement with the US, even after tweaking tariffs in this sector.

 

An ACMA-BCG report has targeted Indian auto component exports to hit $100 billion — nearly a fivefold increase from $21 billion currently.

 

But for North America, India is a small market for auto component imports, accounting for 4 per cent ($6.7 billion) of its total requirement of $170 billion annually. However, for Indian auto component exporters, it is their largest market, accounting for 31 per cent of total exports of