Over the last 25 years we have seen a significant growth in the Indian auto components industry. The Indian auto component industry is expected to reach a turnover of US $113 billion by 2020 according to the Auto Component Manufacturers Association (ACMA) report.
Status of the industry
The Indian auto component industry has been associated with the growth of the automobile industry but in the present day the auto component companies are expanding globally and are involved in forward and backward integration. Being a huge task, more engineers, scientists and managers are required to perform the whole range of activities.
Areas of growth
In the auto component industry there is a need for engineers to work in the areas of mechanical and electrical engineering. Since companies are expanding on a global scale there is also a need for managers with international skills for business development.
Domestic Tyre Industry
India has emerged as one of the world’s most competitive tyre markets due to vast availability of raw material (natural rubber) and ultramodern production facilities.
In India, the auto plants of global automakers rank among the top throughout the world in terms of their quality and productivity. Top auto MNCs like Suzuki, Hyundai and Toyota rank their Indian production facilities right on top of their global pecking order. According to a recent research report, the Indian auto components industry can be expected to beat China’s growth path by 2021.