India: The Next Auto Components Giant
Fueled by a robust domestic market and rising exports, India’s auto components industry is set for exponential growth.
Driving the Future: Electric & Smart Mobility
EV Market by 2030
Projected to reach $206 billion, creating massive demand.
EV Battery Market
Set to be worth $300 billion by 2030.
EV Sales by 2030
50% of new two-wheeler and 70% of three-wheeler sales.
Investment in EV Buses
$181.59 million invested to double EV bus supply in India.
Driving the Future: Electric & Smart Mobility
Massive Investment Potential
Automatic Investment Route
100% Foreign Direct Investment (FDI) permitted under the automatic route, streamlining the investment process.
Production-Linked Incentive (PLI)
Comprehensive scheme allocated to boost auto component manufacturing and attract fresh investments.
Innovation Framework
Bharat New Car Assessment Program (BNCAP) driving innovation and production of high-value auto components.
Key Growth Drivers in the Industry
Growing Consumer Base
Expanding middle class driving unprecedented vehicle demand
Local Manufacturing Push
$7B planned investments by FY28 for domestic production
Strategic R&D Focus
8% of total R&D dedicated to automotive innovation
EV Component Demand
Government incentives boosting electric component market
Why India is the Next Big Hub for Auto Component Manufacturing
High Domestic Demand
Rapid vehicle ownership growth & rising disposable incomes.
Cost-Efficient Manufacturing
10-25% lower production costs than Europe & Latin America.
Strategic Export Location
Proximity to major markets like ASEAN, Europe, and Japan.
Tech-Driven Growth
Advancements in AI, robotics, and automation in auto component production.
Government Incentives
PLI schemes, reduced import duties, and R&D support.
EV Revolution
Massive opportunities in battery tech, smart components, and electric drivetrains.
Harnessing India's Diverse Renewable Energy Resources
Installed Renewable Energy Capacity
As of July 2024, India ranks 4th globally in installed renewable energy capacity, reaching a total of 150 GW.
Expected Capacity
India’s installed renewable energy capacity is projected to reach 250 GW by 2026, reflecting significant growth in the sector.
Expected Electricity Share
By 2030, India aims to generate 50% of its electricity from renewable sources
