1、For updated information,please visit www.ibef.orgAugust 2025AUTO COMPONENTS2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies13Growth Drivers17Opportunities 23Key Industry Contacts28Appendix30Table of Contents3Advantage India4Advantage IndiaADVANTAGE INDIA1432 Growingw
2、orkingpopulationandexpanding middle class are expectedto remain the key demand drivers.Indiaistheworldsthird-largestautomobile market by both value andvolume.By 2030,ten million EVs could be soldeach year.The EV market is expectedto reach US$206 billion by 2030.Indias auto component industry isexpec
3、ted to attract Rs.25,000-30,000crore(US$2.89-3.46 billion)in FY26for capacity expansion and EV partlocalization.1.Robust demand India is emerging as a global hub for auto componentsourcing and the industry exports over 25%of itsproduction annually.Exports of auto components rose by 8%,reaching Rs.1,
4、95,726 crore(US$22.90 billion)in FY25,up fromRs.1,81,196 crore(US$21.20 billion)in FY24.The auto component sector is projected to achieveexports worth Rs.8,54,700 crore(US$100 billion)by2030.By FY28,the Indian auto industry aims to invest Rs.58,000 crore(US$7 billion)to boost localization ofadvanced
5、componentslikeelectricmotorsandautomatictransmissions,reducingimportsandleveraging China Plus One trend.4.Export opportunities A cost-effective manufacturing base inIndia keeps costs lower by 10-25%relative to operations in Europe andLatin America.Presence of a large pool of skilled&semi-skilled wor
6、kforce amidst a strongeducational system.Second-largest steel producer globally,hence a cost advantage.India is emerging as a global autocomponent sourcing hub due to itsproximity to key automotive marketssuch as ASEAN,Europe,Japan andKorea.2.Competitive advantages In January 2024,the Government of
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