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Making Indian auto component industry future-ready
The Indian auto industry is one of the largest in the world. The industry accounts for 7.1 per cent of the country’s GDP. It is poised to become fourth largest manufacturer of automobiles globally by 2020 after China, the US and Japan. Not to mention, India is currently world’s second largest two-wheeler manufacturer. While governments across the world, including the Indian government, have been focusing on reducing their global carbon footprint, the disruptions triggered by the introduction of electric vehicles (EV), digitisation and connectivity across auto and auto components industry, is hard to ignore.
