According to ACMA, the sector achieved an impressive turnover of ₹6.14 lakh crore (USD 74.1 billion) in FY24, marking a 9.8% growth compared to the previous year. This growth highlights India's evolving role in the global automotive landscape, bolstered by a focus on rising exports and increased localisation.
India's cost-effective manufacturing continues to be one of its most compelling advantages, alongside a focus on producing high-value components domestically, which reduces reliance on imports. According to ACMA, auto component exports rose by 5.5%, reaching USD 21.2 billion in FY24, with North America and Europe each accounting for over 30% of exports.
Shradha Suri Marwah, President of ACMA and CMD, Subros Ltd., remarks, "India's auto component industry has emerged as a globally preferred hub. Localisation efforts and advanced manufacturing practices are enabling us to meet international demand while reinforcing India's leadership in the global market." This momentum underscores the sector's focus on building a resilient ecosystem, capable of withstanding global challenges while capitalising on trends such as the pivot toward electric vehicles (EVs).
Make in India: A Catalyst for Growth
Bu hikaye Business Standard dergisinin January 10, 2025 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin January 10, 2025 sayısından alınmıştır.
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