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Image Source - http://www.autocarpro.in
Over
the last few years, Indian auto-components industry has experienced a healthy
growth. Factors that contribute to this growth includes: optimistic end-user
market, improved consumer sentiment and return of adequate liquidity in the financial
system.
Indian Auto-component industry
being one of the largest industry accounts for over 7% of India’s Gross
Domestic Product (GDP) and employs as many as 19 million people, both directly
and indirectly.
In FY2015-16, the Indian
component industry clocked a turnover of Rs 255,600 cr. (+8.8%), exported Rs
70,900 cr. worth of parts, sold products worth Rs 44,600 cr. in the domestic
aftermarket and saw investments grow by US$ 22 billion. And in FY2016-17,
Industry witnessed the sales growth by 13.42 percent to 5,546,343 units in the
first quarter of FY 2017, as compared to 4,890,099 units which were sold in the
same quarter of FY 2016.
This year, industry focus to
witness further of 8-10% based on higher localization by Original Equipment
Manufacturers (OEM), higher component content per vehicle, and rising exports
from India, as per ICRA Limited.
“By 2020, Indian Auto-component Industry is
expected to register a turnover of US$ 100 billion backed by strong exports
ranging between US$ 80- US$ 100 billion by 2026, from the current US$ 11.2
billion.” according to Automotive Component Manufacturers Association of India
(ACMA).
Government is taking all the
essential steps to boost the Automotive Industry of India, while making it
environment friendly by diversifying itself in various newer avenues like electric,
electronic and hybrid cars which are going to be quite more efficient, safe and
reliable modes of transportation.
India’s Automotive Mission Plan
(AMP) 2006–2016 has already came a long way while ensuring the growth for this
sector. The plan (AMP) 2016–2026 focuses, to create additional 50 million jobs,
along with ambitious target of increasing the value of the automotive sector to
up to Rs 1,889,000crore.
With such aims, and newly amended
steps taken by the government Indian auto-components industry is set to become
the third largest in the world by 2025. With growth in the new-auto sector,
used auto-sector will also witness the robust growth on YoY basis.
Shriram Automall India Limited
(SAMIL), Largest used vehicles & equipment provider in India, with an
optimistic approach look forward to walk alongside the Government’s newly
implemented and to be implemented rules. So, that customer could enjoy better
& safer long term results out of their transaction.
Buying a used automotive only
brings you profit that too at the prices, you will be glad to make a deal out
of. If you as well are looking forward to buy or sell a used vehicle &
equipment Shriram Automall India Limited (SAMIL), is the best choice to make.
Visit your nearby Automall today or simply click the link below to register
yourself.
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