NEW DELHI (Reuters) - The auto components sector is seen growing five times to $110 billion in the next decade with investments of more than $35 billion, an industry body said on Friday.
Of that target about $80 billion will be from India itself and the remaining from exports, the Automotive Components Manufacturers' Association of India said in a statement.
NEWDELHI: The Indian auto component industry expects to grow by over four-fold to$113 billion by 2020 as there have been projections of a similar jump in carmanufacturing in the country in the next decade, said Automotive ComponentManufacturers’ Association.
The total passenger car productionin the country will jump four times to reach 9 million cars in the next tenyears, the industry body said in its forecast report on Friday. Although a majorchunk of this will come from the fast growing domestic market, exports arelikely to form around 35% of the total market by 2020.
“Indiawould be among the top-five vehicle producing countries in the world by2020,” said ACMA executive director Vinnie Mehta.
NEWDELHI: The Indian auto components sector is seen growing five times to $110billion in the next decade with investments of more than $35 billion, anindustry body said on Friday.
Of that target about $80 billion willbe from India itself and the remaining from exports, the Automotive ComponentsManufacturers' Association of India said in a statement.
In the year2020 the auto components sector is expected to provide employment to about 41million skilled people, contributing 3.6 percent to India's gross domesticproduct from 2.1 percent now, it said.
At a meeting with the unions, Home Minister RR Patil referred to the recent ‘Meter Jam’ campaign and asked representatives of both unions to instruct their drivers not to refuse fares.
This results in complaints from commuters. Such irresponsible behaviour by drivers should stop,” RR Patil said during the meeting.
“If drivers stop refusing fares and follow proper traffic rules then there would not be an opportunity for people to complain.” The government has also asked the transport department to scrap all illegal taxis and auto rickshaws running on expired permits and wrong licences.
Errant Mumbai taxi, auto drivers get 10 days ultimatum IBNLive.com PTI Mumbai, Aug 25 (PTI) Responding to repeated complaints from passengers about errant taxi and auto drivers, Maharashtra Government has given an ultimatum ... |
Dumper Truck Oil Tanks | India Auto Components | India OEM
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