Auto Bytes - December 2022

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The auto ancillaries industry in India, currently valued at USD 56.5 billion, accounting for 7.1% of India’s Gross Domestic Product and employing approximately 5 million people, is set to grow at an unprecedented rate.

This edition of Auto Bytes explores how growth will be driven by factors such as 100% foreign direct investment (FDI) under the automatic route for the auto components sector, a projected increase in the electric vehicles (EV) market, and India’s competitive advantage as a low-cost manufacturing base and the second largest producer of steel.