The Components Show at the Yashobhoomi Convention Centre in Delhi is full to the brim. People and companies are jostling for space across the five mammoth halls, spread over 70,000 square metres. For any Indian automobile components manufacturer which matters, the third largest show of its kind in the world cannot be missed. The industry that registered revenues of $74 billion during the last fiscal is preparing for take-off.
This is just one of the locations for Bharat Mobility Global Expo 2025, where over 1000 companies, delegations from over 40 countries and pavillions of various countries have their presence. At two other locations, automobile and commercial vehicle companies are present with their products and in their array of colours. Nine industry bodies and 11 government ministries have joined hands for the Bharat Mobility Global Expo 2025.
India auto component companies exported to scores of countries in the last year. Indian industry’s cost competitiveness and high-quality precision engineering skills are helping it find new markets. The government is working closely with the mobility ecosystem to drive innovation besides upgrading the technology for the industry.
“I had requested the auto component industry to aspire to grow from $20 billion in exports to $100 billion in the next 10 years. If the Indian component industry can achieve this target, I see within that a greater degree of Atmanirbharta and more and more Indian automobile companies becoming dependent on Indian manufacturers. I think it is India’s time, and it is for all of us (the auto component industry) to grab the opportunity,” Commerce & Industry Minister Piyush Goyal said.
“The auto component industry is experiencing remarkable growth, with the shift to electric vehicles representing a transformative milestone. Technologies such as AI are enhancing quality, precision, and experimentation. To maintain this momentum, the sector must evolve from traditional supply chains to more advanced electro-mechanical models,” Minister of State for Commerce & Industry Jitin Prasada said.
Manufacturing the future
The largest components show in the country has been built on a dream. India has been scaling up its manufacturing ambition with industry-specific policies and programmes, with the automobile sector being one of them. With $21 billion in exports in FY24 and the unfolding disruption in the sector, companies’ ambitions are getting bolder.
As the auto components industry raises the bar for manufacturing with world-class quality, its dream is to morph into a technology-centric industry that invests with a focus on R&D, skilling, digitisation, and low-cost automation. The ground is ready for the industry that clocked $74 billion in revenues during FY24.
Electrical vehicle manufacturing could be key. India is looking to make electric vehicles, passenger or commercial, the cornerstone of the mobility sector. The industry could see an opportunity in the policymakers’ suggestion of a five-year action plan for a roadmap on the transition from existing internal combustion engines (ICE) to EVs.
While expanding the manufacturing base and finding markets for its products are at the core, addressing the expanding sustainability gaze is among the industry’s top priorities. ACMA is enabling its member companies to carry out training activities to achieve carbon neutrality and sustainability and meet global standards.
As Sunjay Kapur explained, “Since the (automobile) industry is transforming, the component industry will (have to) transform to cater to the industry.”
