India is one of
the accelerating countries in the field of automotive. The recent growth in the
field of auto component manufacturers took India to a new level of automation. India is
going to become 4th largest manufacturing company globally.
At present India
is the primary option as a vendor company for the globally dominating company
in term of auto components. The main reason behind it was the supply of the
components at low cost as compared with other countries. It’s because of the
presence of the low-cost labor in India.
Most of the
well-known companies are connected with the Indian vendor companies for auto
components. The major Auto Component manufacturers in India and are going to join top 100 auto companies globally are- Bharat
Forge, Motherson Sumi System, Sundram Fasteners, Bosch India and Sundaram
Clayton. The other known Auto component manufacturers in India are Exide,
Dunlop, Ceat, Bharat Seats, JBM group, AVTEC, Lucas TVS, MIL, Anand, Sona Koyo
Steering systems Limited etc.
It is expected
that 26 percent of the market will be exported by 2021. It makes up to 7
percent of India’s GDP. In the last
decade, India accounts up to 3 times more export than before.
Summary: -
Thus it is
concluded that the auto component manufacturers in India play a vital role in
the growth of the country along with the auto industry. All the globally known
automobile companies depend on the Indian vendor companies to provide
automobiles at pessimistic cost.
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