The size of India’s auto component manufacturers is $57 billion and the auto parts manufacturers in india have an export component of $15 billion.
A growing domestic market for auto components companies (auto ancillary companies) who manufacture automobile components, PLI schemes of the Government, a lower manufacturing cost vis-à-vis developed economies and an industry with an established track record.
However, apart from the OEM manufacturers in India, while select automotive component manufacturers or the car accessories manufacturers in India have done well, there are many others who lack the visibility and the ability to get introductions to the OEMs. There is also good potential for diversification by auto component manufacturers into other engineering products, in terms of process route auto component, or component route auto component, as the same facilities and tooling deployed for auto components, can be deployed for their manufacture. Further there are auto electrical parts suppliers, auto component vendors, automobile part contractors, in other words – third party auto component manufacturers also play an important role in the Co-manufacture process. This is aided by the existing surplus manufacturing capacity with the Auto component suppliers. Apart from the organised sector there are also a large number of unorganised sector players, catering to the auto aftermarket.
We believe that Co-manufacture of auto components would help the companies focus on their core competencies.
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