22 Apr 2025
India's growing manufacturing base and cost advantages position it as a potential market leader in the global automotive component market, according to a NITI Aayog report. The country's auto component exports have risen from Rs. 63,181 crore (US$ 7.4 billion) in FY21 to Rs. 1,09,286 crore (US$ 12.8 billion) in FY24, with a 73% surge since FY21.