INDIA is fast emerging as a global hub for the export of auto parts to global automotive markets. Auto parts manufacturing Industries is enriched by exposure to the global process and work culture due to top automobile companies from Korea, Japan and European companies setting up manufacturing facilities for domestic and export markets. The paradigm shift in the component industry has happened as these companies are trained to meet international standards and adopt higher quality certification. Also, have scaled up sharply their purchase of components from local vendors, which has helped them reduce prices significantly in INDIA and also export parts to global locations.
In the extremely competitive global market, INDIAN auto parts manufacturers meet international quality standards, regulations of different countries and at a competitive cost. Indian auto parts manufacturers, over the years, have developed strong manufacturing capabilities that have helped them in keeping costs low and quality under control.
The INDIAN auto parts industry is set to become the third largest in the world by 2025. INDIAN auto parts makers are well positioned to benefit from the globalisation of the sector as exports potential could be increased by up to US$ 30 billion by 2021.
The Indian auto parts industry has experienced healthy growth over the last few years. The auto parts industry accounts for 2.3 percent of India’s Gross Domestic Product (GDP) and employs as many as 1.5 million people. A stable government framework, increased purchasing power, large domestic market, and an ever-increasing development in infrastructure have made India a favourable destination for investment.
INDIA’S auto parts manufacture is hitting larger growth in the GDP value of the country. Rapid Economic Development in India with a projected annual GDP OF 7% through 2020.
INDIA with investor friendly policies, easy of doing business, cost competitive labour force, large pool of english speaking workforce and the country with young median age of 30 is poised to become second largest economy by 2050.
Auto parts are exported to 160 countries, USA being highest at 23%.
Connectin Technical Services located in Bangalore, South of India are engaged into Sourcing of Auto and Engineering parts and export to USA, Europe, and South Asia. We are a team of Engineering Professionals with vast domestic and international sourcing exposure, committed to adding value to customer’s requirement with the highest level of Quality Management, Competitive Cost and Ship To Use Supplies.
INDIA is fast emerging as a global hub for the export of auto parts to global automotive markets. Auto parts manufacturing Industries is enriched by exposure to the global process and work culture due to top automobile companies from Korea, Japan and European companies setting up manufacturing facilities for domestic and export markets.