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 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 ...
Make in India to augur well for the auto component industry
Sai Nikesh | The Dollar Business The Government of India’s Make in India policy seems to have appeared as a boon to the Auto component Industry of India. This is evident in the ongoing demand that the industry is witnessing in its international market and in the light of Indian government’s pitch all-over for the development of domestic markets. As per latest reports, the domestic auto component making companies are set to mark their presence among the top 100 global lists. According to latest reports, the international revenues of the component makers grew from $6.4 billion in FY09 to $16.2 billion in FY14, registering a growth rate of 24% per annum. The exports doubled to $10.2 billion from $5.1 ...
Huge potential to grow Indian auto component exports to China: ACMA
Bidhu Bhushan Palo | The Dollar Business China accounts for over 20% of India's auto components imports compared to just 3% of India's auto components exports Rising wages in China and ongoing improvements in design and value addition by Indian auto component manufacturers present an opportunity to boost exports to China, according to the Automotive Component Manufacturers Association of India (ACMA), the apex body of the Auto Component Industry in India. In a study, “Export Opportunities for Made-in-India auto components for China”, ACMA says that there are export opportunities for Indian auto component manufacturers estimated at $20 billion for auto components to select OEMs in China. The study focussed on understanding the buying behaviour and the market dynamics of ...
