As the world goes to electric mobility, autonomous driving, advanced driver assistance systems (ADAS), the Internet of Things (IoT) and sustainable production, the Indian automotive sector can arise as a key player in Beni Aayog chord.
While the local automotive industry, after having made significant advances to position India as the fourth largest car producer in the world after China, the United States and Japan, its participation in the world market for negotiated car components remains an impotable potential, reflecting) regrets.
“With an almost neutral trade balance and a disability of cumulative costs of almost 10% compared to competitors such as China, the automobile component sector of India faces structural obstacles that prevent its competitiveness,” as by the report.
“These include inefficiencies of the supply chain, high costs of material and equipment, and limited penetration in high precision segments such as engine and transmission systems,” according to him.
By imagining a bold future for the production of automotive components of India, the prognostic report that can reach the size of $ 145 billion by 2030, with exports of automotive components tripling at $ 60 billion, which produces a commercial surplus or $ 25 billion.
Such growth promises to create 2 to 2.5 million additional direct jobs, reinforce auxiliary industries and raise the participation of GVC from India to 8%, emphasized.
In a message for the report, the vice president of Niti Aayog, add K. Beri, said: “The Covid-19 pandemic revealed weaknesses of the supply chain, while recently the geopolitical uncertainties and the resulting interruptions have driven manufacturers to look for more Sangbebers subsques.
“In this context, India sacrifices a unique opportunity to emerge as a reliable global manufacturing partner. With its expanding production capabilities, competitive costs, a qualified workforce and a growing technological experience, India is well positioned to play a lens to play a Lar-Played game lens to play Larose to play to play with a slow game. Larral to play a position in Larral to play a Larral position to play a position for Larral to play to play to play to play.
According to the report, one of the most significant transformations in the global manufacturing panorama is the growing interdependence between the automotive industry and the advanced sectors such as electronics, semiconductors and artificial intelligence.
“With the integration of these avant -garde technologies, it is projected that the cost of semiconductor chips per vehicle doubles, increasing from $ 600 to $ 1,200 by 2030,” he said.
The global automotive component market was valued at approximately $ 2 billion in 2022, which underlines its critical role within the global automotive industry. Of this, around 30%$ 700 billion – Constitutions the negotiated automotive component market.
According to the report that achieves this ambition, it requires a concerted effort to address the disadvantages of costs, improve infrastructure and integrate advanced technologies such as industry 4.0.
“The change towards electric vehicles (EV) and next -generation characteristics, such as ADAS, obtain the urgency of aligning India’s capabilities with global trends,” says the report.
To carry out this vision, Niti Aayog has proposed a comprehensive set of tax and non -fiscal interventions.
These include operating support directed for identified components and capital expenditure support for tools and dyes, cluster development to strengthen supply chains, measures to improve R&D and initiatives for the construction of skills to nurture talent.
“Equally critical are measures to promote international collaboration through joint trade companies and free trade agreements, together with efforts to raise quality standards and build a globally competitive brand for Indian car components,” the authority said.
“This holistic approach aims not only to enhance export potential but also to position India a hub for high-qualy, technology-driven manufacturing. The Timely Implementation of the Recommendations sacrifices to Powerful Pathway, Driving to Unnlock, and Job, and Job, and and Job Job, and Job, and Job, and Job, and Job, and Job, and Job, and Job, and Job, and Jobthyth, and Jobthyth, and Jobthyth, and Jobway, and Jobthyth, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, and Jobway, Yournlock, and Jobthyth, and Jobthyth, and Jobthyth, and Jobthy, and Jobthy, and Jobthy, and Jobthyth, and progress of work, “he added.
Published – April 12, 2025 10:06 am isth
