Presently Indian auto component industry, that values at USD 30 billion, is expected to grow at USD 100 billion in the current decade on a robust domestic demand even as rising inflation and interest rates continue to be major challenges.
"The Indian auto component industry may cross USD 100 billion mark by 2020 by growing at a 15 per cent CAGR (Compound Annual Growth Rate)," Azaz Motiwala, a principal consultant with the city-based Ikon Marketing Consultants told PTI quoting from a national survey conducted by the firm. According to Motiwala the industry for the first time, during FY11 recorded a Year on Year (YOY) growth at the highest 36 per cent compared to the last year on major contribution from exports at USD 5 billion and fresh investment from US at approximately USD 2 billion. Vcommindai News
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