This report analyzes the auto ancillary market in India. It highlights the trends in the auto ancillary sector. This market report also highlights the growth of key players in the automotive ancillary sector. It explains how the auto ancillary market has evolved over the last few years, and offers strategies for companies interested in expanding their business in India. A comprehensive analysis of the auto ancillary market in India will help you determine the right strategy to succeed in this market.
The report also provides insights into the opportunities in this market, including the five major automobile production hubs in India. This section also covers emerging auto ancillary hubs and their respective auto industry scenarios. It also provides comprehensive export-import data for the financial year 2011 to give readers a broad picture of the auto ancillary market in India. Once you’ve read this report, you can confidently plan your next move. You can start by ordering your copy of the report today. It’s free and easy to use!
The auto ancillary sector in India is forecast to grow at a moderate pace in 2013, despite weak economic growth and limited signs of recovery. Although the auto industry is better-positioned to handle the current slowdown, the rupee’s weakening value may put pressure on the market’s export competitiveness. However, the rupee’s weakening value will negatively impact the competitiveness of auto suppliers in the international market. This, in turn, will hamper export competitiveness and increase competition within the domestic industry.
India’s auto industry is poised to outpace many fast-growing large economies
And the automotive component manufacturing industry is on a high growth trajectory. As the country aspires to become a global automotive powerhouse, India’s auto component industry is poised to flourish. Multiple trends, policies, and discontinuities in the industry are shaping the future of the auto ancillary industry. By preparing for the challenges ahead, companies will be better prepared to reap the rewards.
The domestic automobile industry is a multi-billion dollar industry, accounting for 2.3% of India’s GDP. Major automobile manufacturers in the country include Tata Motors, Ashok Leyland, Eicher Motors, and Mahindra & Mahindra. Throughout the 1960s and ’70s, the Hindustan Ambassador dominated the market in the country. It was produced until the end of 2014.
The Indian Government’s automobile policy favored domestic manufacturers and removed quotas for imported cars. It also required foreign companies to increase local content and to make capital investments. In 2001, the government eliminated import quotas, allowed 100% foreign direct investment, and lowered excise duties to 24% on passenger cars. Ultimately, the Indian auto industry is thriving in a new environment. But it is important to note that competition in this market is fierce.
This report aims to provide insight into the Indian automobile industry, which is the backbone of the country’s economy. It also covers the role of government policy and enabling factors. It also looks at the current scenario and future prospects. For those who want to take a deeper dive into this market, this report will be an invaluable tool. You can also benefit from our expertise and insights by partnering with us on our Automotive Trade Mission to India 2013