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The Indian automobile components industry has witnessed a great deal of transformation in the past decade owing to globalization and the country’s economic liberalization. The Indian auto-component sector which once catered only to the domestic needs has now become a major focal point for many of the global auto makers to build their facilities. By the year 2015, the Indian auto components outsourcing market is expected to be worth US$700 billion with automobile leaders such as, Toyota, GM, Ford, Volkswagen, etc. already sourcing components worth millions
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October 16, 2012Procurement Consulting – Brickwork Sourcing
India- The Global Hub for Auto Components India- The Global Hub for Auto Components
Brickwork India (Confidential)
Brickwork Sourcing
Low cost labor and raw materials
Improved quality levels and abundance of highly skilled manpower
Huge market potential for investors
Since 2000, the auto-component sector had growth of about 20% per annum
India has potential to manufacture a wide array of automotive components from fasteners to engine parts (about 20,000 in number)
India’s success in manufacturing global compact cars serves as a benchmark
By 2015, the Indian auto components outsourcing market is expected to be worth US$700 billion
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What Makes India Different ?
The liberalization of the Indian economy invited foreign investors to tap into India’s unexploited potential
The presence of Hyundai, Toyota, General Motors and Ford in India has encouraged the Indian component manufacturers to adopt global best practices such as Six sigma, TQM, Lean manufacturing, etc.
Indian companies invest to modernize and inculcate dynamism in the industry
Evolution of key Indian manufacturers such as Bharat Forge, Sundram Fasteners, Amtek Auto, etc. by making major acquisitions in Europe
Foreign apprehensions about quality of products removed as a result of increased export from India
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The Revolution [1/2]
Volvo, Harley Davidson, GM and DaimlerChrysler AG look to India as a counter to global competition
Currently, Automotive Component Manufacturers Association of India (ACMA) has over 600 members with over 250 members having an annual turnover of more than a million US dollars, and over 50 companies earning more than a US$100 million
With automobile leaders such as, Toyota, GM, Ford, Volkswagen, etc. already sourcing components worth millions, the road ahead looks pleasant
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The Revolution [2/2]
“The information contained in this document that includes text, graphics and links, are provided on an “as-is”, "with all faults" and "as available" basis and are without warranty of any kind. While Brickwork relies on sources that are believed to be reliable, it cannot rule out errors in judgment or application. The document is intended for “information” and “general guidance” purposes only.” Investment decisions and/or other decisions based on the conclusions and potential strategies mentioned in the document are not necessarily endorsed by the Brickwork management.”
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13 April 2023
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