India poised to become a global hub for automotive component manufacturing

The firm 'China+1' de-risking strategy of automakers and the ease of technology adaptation of automotive component manufacturers is driving IPOs to increase sourcing from India.

07 Aug 2023 | 7947 Views | By Mayank Dhingra and Ketan Thakkar

The Indian Auto Component Inc.'s cumulative growth in the last five years has touched 4.1 percent, with the rate of growth (5.7%) in exports being double that of imports, thereby helping reduce the trade deficit, which, in FY19 was pegged at US$ 2.5 billion.

However, with the aggressive push ...

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