The outlook is bright for the Indian auto component industry which is expected to continue on a high-growth trajectory for the next 10 years. In order to capitalise on the growth prospects and survive in a rapidly changing competitive environment, the industry, especially the SME units, have to keep pace with global trends and imbibe new capabilities Going by indications, these are good times for the Indian auto component manufacturers. The domestic auto components industry is on a fast growth track of late thanks to the spurt in the number of foreign Original Equipment Manufacturers (OEMs) that source parts from India. Meanwhile, adoption of the best global practices is shaping the industry towards having an efficient supply chain system to fully exploit the rising demand.
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