The Indian auto-components industry can be broadly classified into the organised and unorganised sectors. The organised sector caters to the original equipment manufacturers (OEMs) and consists of high-value precision instruments while the unorganised sector comprises low-valued products and caters mostly to the aftermarket category.
Majority of Indian auto component exports are to countries in Europe, which account for 35 per cent followed by countries in North America with 26 per cent.
The export of auto components showed a great deal of improvement registering a growth of 16.7 per cent to Rs 61,487 crore (US$ 10.04 billion) in 2013-14 from Rs 52,690 crore (US$ 8.61 billion) in 2012-13. Also, with the automotive sector being a key driver of the economy and growth returning to vehicle consumption in the past few months, ACMA expects the industry to grow by 4â€“6 per cent in FY15.
The cumulative foreign direct investment (FDI) inflows into the Indian automobile industry during the period April 2000 â€“ August 2014 was recorded at US$ 10,119.68 million, as per data published by the Department of Industrial Policy and Promotion (DIPP), Government of India.