ACMA pegs auto components exports at $80 bn by 2026
Sreenivasa Rao Dasari Setting a seven-fold rise in auto component exports for the next decade, Automobile Component Manufacturers Association (ACMA) has advised the industry to focus on quality and innovation. ACMA forecasts $70-billion exports by 2026 from the $10.8-billion level in 2015-16 financial year. According to Automotive Mission Plan 2016-26 (AMP), the Indian auto component industry aims to achieve $200 billion in revenues by 2026 including exports of $70-80 billion. India recorded auto component exports to Rs70,996 crore in 2015-16, which grew 3.5% from Rs 68,500 crore ($11.2 billion) in 2014-15. ACMA President Rattan Kapur has estimated that the auto component industry requires investments to the tune of $30-billion to achieve the target under AMP. Speaking to The Dollar Business, Kapur said, ...
India has good scope of global trade in auto components
Ahmad Shariq Khan & Aamir H Kaki Even if the market has shrunk by few percentage points in the last few years, India’s scope of global auto components trade in various emerging and new markets remains extremely large, feels Vinnie Mehta, Director General, Automotive Component Manufacturers Association of India (ACMA). He further said that global opportunities at the moment are vast and global exports market for auto components stood at $1.3 trillion while India’s exports are currently around $11 billion. After five years of growth, India’s exports of automobile components dropped 3.7 percent to $10.8 billion in the fiscal of 2015-16, against the $11.2 billion in the previous fiscal, when exports grew at 10 percent. However, Mehta said that the traditional benefits of lower costs and skilled engineering ...
Auto component industry to grow at 10% in FY 2017
The Dollar Business Bureau Rating agency ICRA said that the auto component industry is expected to grow by 10 percent in the current financial year, considering the sales growth in motorcycle segment and passenger vehicles. In its quarterly note on the auto component segment, ICRA said that it expects the auto component sector to gain momentum and register a growth of 8.5 percent to 10 percent in 2016-17 as against the growth of 2.8 percent in the last financial year. Taking into consideration the rising localisation by original equipment manufacturers (OEMs), high component content in every vehicle and increasing exports from the country, the growth in the auto component sector will be more than the underlying growth in automotive industry, over ...
Auto component exports from India expected to grow seven-fold
The Dollar Business Bureau Automotive components manufacturing is expected to get a major boost with the ‘Make in India’ initiative and the industry hopes to increase its overseas shipment by seven times in the next ten years. “When the prime minister put forward the idea of Make in India, several Indian as well as foreign industrialists have stepped up to realise this dream. The government is attempting to do everything to meet industry’s expectations. Currently, the whole world is watching our steps closely. They know India is possibly the biggest market right now,” Heavy Industries & Public Enterprise Minister Anant Geete said at the national conference of Automotive Component Manufacturers Association of India (ACMA). The last decade has been profitable for ...
