Automotive and EV

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India’s automotive industry is currently valued at USD 222 billion and is expected to reach USD 300 billion by 2026. It accounts for 8% of the country’s total exports and 7.1% of GDP. With 100% FDI allowed for the industry under the automatic route, it was the second largest FDI attracting industry in the country, accounting for 15.8% of total FDI between 2021-22.

As the industry pivots towards sustainable mobility steered by government focus, the EV (projected to grow at a CAGR of 49% between 2022-2030) and alternative fuel technology markets, such as green hydrogen cells, clean energy and mobility solutions are expected to attract immense investor interest. Additionally, as per IEA, this transition to clean energy- including renewable batteries, green hydrogen, and other clean technologies is expected to create a market of USD 80 billion in India by 2030- out of which USD 19 billion (~24%) is expected to be attributable to green hydrogen.

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Transformation consulting

Problem statement

The client was an apex body representing the interest of the Indian auto component industry, having a member base of more than 800 manufacturers contributing >85% of the auto component industry’s turnover in the organised sector.

Our Solution

Basis our initial hypothesis, extensive primary (OEMs, auto component manufacturers, and industry associations) and secondary research was conducted that enabled us to baseline the relevant product categories.

Impact

This engagement explored the relevance of various automotive electronic products in the Indian market, considering current regulations and demand trends.

Tax, regulatory, and finance consulting

Problem statement

The client was a multinational auto component group with over 100 years of experience in operations, extensively focused on green technology and energy conservation systems.

Our Solution

The approach included steps such as understanding the scheme and eligibility of the clients’ products for the incentive under the scheme, understanding the eligibility of expenditure on fixed assets for its consideration as an eligible...

Impact

Our outreach activities with the ministry officials, coupled with prior experience in similar schemes, helped the client immensely.

Risk consulting

Problem statement

The client was a leading Tier-I supplier of auto components and solutions to original component manufacturers (OCMs) globally. They required coverage of all business verticals once a year for internal audit as against once in two years,...

Our Solution

We focused on smart collaboration by forming a team with representation from risk advisory, ERP advisory, technical resources, and tax professionals. This helped structure a comprehensive coverage of the scope and operations of the group....

Impact

Our assistance in strengthening controls and horizontal deployment/implementation of best practices across the group resulted in consistency in business processes across various business verticals. Over the years, the client’s internal...

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Driving change

Enhancing road safety through technology and partnerships

The report highlights the need for AI-driven traffic monitoring, improved infrastructure, vehicle safety, and strict enforcement to reduce road accidents.

Automotive & EV