The growing presence of global automobile Original Equipment Manufacturers (OEMs) in the Indian manufacturing landscape has significantly increased the localization of their components in the country. India has become the preferred designing and manufacturing base for most global auto OEMs for local sourcing and exports.
100% FDI allowed under the automatic route.
For further details, please refer FDI Policy
Share in India's GDP
Employment generated
Industry growth rate
Hybrid and electric vehicles sale
The rapidly growing auto market in India is expected to reach $ 300 bn by 2026
Automotive aftermarket segment in India is expected to reach $ 32 bn by 2026
Auto Components industry exports to grow 5X in next 10 years
Auto Components industry exports, which is currently valued at $13.5 bn, is expected to grow at an annual rate of 23.9% to reach $80 bn by 2026. USA, Germany, Turkey, UK, and Italy are the top destinations for exports.
Aftermarket segment which includes tyre, battery, brake parts, is expected to reach $32 bn by 2026 from $9.2 bn currently.
The overall industry which accounts for 2.3% of India's GDP currently, is set to become the 3rd largest in the world by 2025.
Tata Group's Automotive parts subsidiary, Tata AutoComp Systems Limited has entered into a 50:50 JV with SECO Seojin of South Korea to design, develop and manufacture clutch systems in India.
Automobile components manufacturer Valeo has opened a wiper motor manufacturing facility in Chennai. The facility has the manufacturing capacity of 500,000 units annually and shall cater to the OEMs and aftermarket segments in the country.
Taiwanese Maxxis' India branch has opened another distribution centre in Dehradun to reach out to dealerships in Garhwal region of Uttarakhand.
Tata AutoComp entered in a JV with Chinese Guoxuan High Tech to manufacture EV battery packs. It has begun prototype manufacture at a Pune facility.
Hong Kong-listed Nexteer Automotive is planning to set up a plant in Chennai, Tamil Nadu for manufacturing of electronic power steering which is expected to be functional towards the end of 2018.
Setco Automotive, the homegrown clutch manufacturer for commercial vehicles, is planning to invest $ 30-38 mn in 2-3 years in capacity expansion and plant modernization.
The Government’s vision of 100% electric mobility by 2030
Incentivising buyers of new commercial vehicles
India aims to reduce its carbon footprint by 33-35% by 2030
Reduction in the overall cost structure of the auto industry in India
Technology to curb vehicular emissions by 45 percent and improve fuel efficiency by 30 percent
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Automotive mission plan 2016-2026 targets India to be among the top three in the world for engineering, manufacturing and export of vehicles & auto components. You can find more details about achievements, vision and targets on the portal, link.
National Automotive Board provides a single platform for dealing with all matters relating to the automotive sector especially on matters pertaining to testing, certification, homologation, administering the automotive labs.
For more information, click here.
The National Electric Mobility Mission Plan 2020 is one of the most important and ambitious initiatives undertaken by the Government of India that has the potential to bring about a transformational paradigm shift in the automotive and transportation industry in the country.
NATrIPs is a unique joining of hands between the Government of India, a number of State Governments and Indian Automotive Industry to create a state of the art Testing, Validation and R&D infrastructure in the country. Presently there are 7 testing facilities finalised. They are:
a) GARC Chennai, Tamil Nadu.
b) iCAT Manesar, Haryana.
c) NATRAX Indore, Madhya Pradesh.
d) NCVRS Rae Bareli, Uttar Pradesh.
e) NIAMIT Silchar, Assam.
f) VRDE Ahmednagar, Gujarat.
g) ARAI Pune, Maharashtra.
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