Annual report 2017-18: Indian Auto Component Industry
- preparing for the future
The indian automotive industry continued to register healthy growth during 2017-2018. According to data reieased by the Society for indian Automobile manufacturing (SIAM). India produced over 29 milion vehicles in 2017-2018, a growth of 14.8% over the preceding finacial year. This growth in domestic vehicle production as also a robust export performance has contributed positively to the revenues of the auto-component industry in india.The component industry. witnessed a growth of 18.3 per cent over the previous fiscal. registering turnover of Rs 3,45,635 crore(USD 51.2 billion).further expert grew by 239 per cent in FY 2017-2018 to Rs. 90571 crore (USD 13.5 billion) with an encouraging performance in all geographics.Europe 34 per cent and US with 28 per cent share of india's component export continued to be our predominant overseas markets.