On Tuesday, the industry wrapped up Auto Expo Components Show, held from January 18 to 21 at the Yashobhoomi Convention Center in Dwarka.New Delhi: Industry body ACMA (Automotive Component Manufacturers Association of India) has projected the Indian auto component sector to achieve year-on-year growth ranging from high single digits to low double digits in the April 2024- March 2025 period. This can be attributed to higher value addition from the sector and export demand.
“The auto component industry is expected to grow between 8%-11% in the ongoing year. While the government support is positive, adapting to geopolitical challenges is something we will have to learn to live with,” Shraddha Suri Marwah, President, ACMA & CMD, Subros told ETAuto.
When asked about the anticipated headwinds, Marwah pointed to supply chain challenges arising from the Red Sea crisis. “Time to market goes up, inventory needs to be held for longer, and working capital gets blocked,” she explained.
In FY24, the turnover of the automotive component industry stood at INR 6.14 lakh crore (USD 74.1 billion), registering a growth of 9.8% over INR 5.59 lakh crore in FY23.
Even last year, companies were having issues around the Red Sea, Singapore port and other parts of the world.
Turnover includes the entire supplies from the auto component industry to the vehicle manufacturers, aftermarket in India as well as exports. This also includes component supplies captive to the OEMs and by the unorganized and smaller players.
Typically, automobile OEMs hold a majority share of 65%-70% in the total revenue of automotive component manufacturers. Exports and replacement demand account for the remainder.
Auto Expo-The Components Show
On Tuesday, the industry wrapped up Auto Expo Components Show, held from January 18 to 21 at the Yashobhoomi Convention Center in Dwarka. This marked the first time the event was hosted at this venue.
“The venue is very well maintained. The location offers excellent infrastructure and accessibility. However, the telecom network is very poor, highlighting the need for improvement to enhance ease of doing business and facilitate seamless exhibiting in the country,” Vinnie Mehta, Director General, ACMA said.
The number of exhibitors has increased to over 1000 this year, compared to only 800 last year. The visitor footfall has been over 75,000 during these 3 days. This includes key delegations from Japan, the UK, South Korea, Mexico, and Germany, he said.
The Auto Components Show was part of the Bharat Mobility Global Expo 2025, which featured nine shows, each focusing on various aspects of the mobility ecosystem. The Expo was held at three locations– Bharat Mandapam in New Delhi, Yashobhoomi in Dwarka, Delhi and India Expo Center & Mart in Greater Noida.
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