Sectorial Trends Patterns and Prospects of Auto Component Industry in India

Abstract

The paper highlights the growth of Indian Automobile Industry, particularly to the Indian Auto Component Industry relating with Investments and Foreign Direct Investment in the equity inflows, drawing comparison with the developments and growth of Automobile Industry domestically and globally. The growth of Indian Auto Component Industry in the first decade of the twenty first century is phenomenal. The Industry transformed gradually in stages from serving just Indian market, majority to replacement market, to global OEMs and replacement market. Now, the Auto Component Manufacturers Association (ACMA) has significance for global recognition and has a positive impact on GDP. It has played a vital role in the growth of Indian Automobile sector in last few years and in future as per Automotive Plan 2006-16, and Automotive sector five year plan 2012–17, as projected by Department of Heavy Industry.  The  growth  of  this  sub  sector  has  a  pivotal role  in  the developments and growth of Indian Automobile Industry and economy rather it is dependent on Automobile Industry growth, locally and worldwide.

Keywords: OEMs, ACMA, ACT.