Auto parts sector seen at $110 bn in 2020: Industry body

The auto components sector is seen growing five times to USD 110 billion in the next decade with investments of more than USD 35 billion, an industry body said on Friday.

Of that target about USD 80 billion will be from India itself and the remaining from exports, the Automotive Components Manufacturers’ Association of India said in a statement.

In the year 2020 the auto components sector is expected to provide employment to about 41 million skilled people, contributing 3.6% to India’s gross domestic product from 2.1% now, it said.

The Indian vehicles industry is seeing one of the fastest growth globally at about 30 percent and the entry of automakers from overseas is leading to more demand for cheaper autoparts in the country.

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Comments

  • A1 Cardone  On September 1, 2010 at 2:18 pm

    That’s a great news. They will not just only help the economy but also the people and their lives.

  • Nissan car parts  On September 11, 2010 at 4:05 pm

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