The automobile industry, which has been on a roll in the last five years, has set the pulse racing for the automotive component industry as well presenting it a rewarding opportunity as also a daunting tasks from cheaper competitors like China '"The rapid pace at which the 'industry is growing, it has all the potential to be the next big success story after IT.
In fact, we find that the component supplied by the Indian auto component manufacturers is similar to the Japanese quality," said Atsushi Toyoshima, managing director Toyota Kirloskar Motor. Toyota, which has a manufacturing facility near Bangalore, outsoucres the auto-component. Manufactured here to ASEAN.nations, he said. According to the Automotive Component Manufacturers Association of India, the component industry increased its revenues from $6.7 billion to $8.7 billion, a 30 per cent jump. Exports shot up from $1 billion in 2003-04 to $1.4 billion in 2004-05, ` a 40 per cent growth. The industry is expected to grow to $5 billion by 2010, ACMA said. Industry watchers say that global automobile industry, including Europe and the US, are sourcing component from India and China to cut costs making the industry to adopt best manufacturing practices and adhere to strict delivery schedules. The Indian auto component manufacturers serve major Original Equipment Manufacturers (OEMs) as Tier II and Tier III supplier. As of now, China is the~ "hest destination for auto component manufacturers.
In India, there are three major clusters for these manufacturers, Chennai, Pune and Gurgaon. Chennai itself has over 100 players in the auto-component market thereby giving its sobriquet of being the "Detroit of South Asia".
It supplies component to car manufacturers like Ford, Hyundai, General Motors, and Hondaµ "India's auto-motive component industry is emerging as a major player with India exporting engine and engine parts, electrical parts, suspension and braking parts among other. It is also poised to become a global base for heavy vehicle industry," said Anand Sundareshan, managing director, Schwing Stetter India, a German batching equipment manufacturing firm based in Tamil Nadu.
In fact, we find that the component supplied by the Indian auto component manufacturers is similar to the Japanese quality," said Atsushi Toyoshima, managing director Toyota Kirloskar Motor. Toyota, which has a manufacturing facility near Bangalore, outsoucres the auto-component. Manufactured here to ASEAN.nations, he said. According to the Automotive Component Manufacturers Association of India, the component industry increased its revenues from $6.7 billion to $8.7 billion, a 30 per cent jump. Exports shot up from $1 billion in 2003-04 to $1.4 billion in 2004-05, ` a 40 per cent growth. The industry is expected to grow to $5 billion by 2010, ACMA said. Industry watchers say that global automobile industry, including Europe and the US, are sourcing component from India and China to cut costs making the industry to adopt best manufacturing practices and adhere to strict delivery schedules. The Indian auto component manufacturers serve major Original Equipment Manufacturers (OEMs) as Tier II and Tier III supplier. As of now, China is the~ "hest destination for auto component manufacturers.
In India, there are three major clusters for these manufacturers, Chennai, Pune and Gurgaon. Chennai itself has over 100 players in the auto-component market thereby giving its sobriquet of being the "Detroit of South Asia".
It supplies component to car manufacturers like Ford, Hyundai, General Motors, and Hondaµ "India's auto-motive component industry is emerging as a major player with India exporting engine and engine parts, electrical parts, suspension and braking parts among other. It is also poised to become a global base for heavy vehicle industry," said Anand Sundareshan, managing director, Schwing Stetter India, a German batching equipment manufacturing firm based in Tamil Nadu.