India needs to improve exports to become a preferred manufacturing destination for auto components, says Grant Thornton ACMA report
The Automobile Mission Plan (AMP) 2026 policy aims to develop India as a preferred destination for manufacturing auto components and improving exports will play a major role in achieving this target. According to Grant Thornton ACMA report - Making Indian auto component industry future-ready, the auto component industry will have to take significant measures and steps to convert from being an export deficit industry to an export surplus industry.
Grant Thornton’s new Asia Pacific report - Asia Pacific: trading and thriving reflects a buoyant mood across much of the region, as business optimism hits a two-year high. This is largely driven by improvements from its two biggest economies, China and Japan, and region-wide positivity on prospects for increased trade. However, not all trajectories are heading upwards. India’s optimism mostly remains positive at 75 per cent but has dropped to its lowest level in four years.
Food grain demand is expected to reach 355 million tonnes in 2030 and farm mechanisation will be instrumental in meeting this demand, says Grant Thornton and FICCI report
Food grain demand in India is expected to reach 355 million tonnes in 2030 as compared to 250 million tonnes in 2016 and the enhancement of farm mechanisation market will play a key role in meeting this demand, says a Knowledge Paper by Grant Thornton and FICCI – “Mechanisation: Key to higher productivity to double farmers’ income” launched today at EIMA Agrimach India 2017. The knowledge paper further states that the farm equipment market in India is currently estimated at USD 8.8 billion in 2017 and it is expected to reach USD 12.5 billion by 2022 with a CAGR of 7.5 per cent.