The EV market in India is witnessing steady growth for the last two year. In FY23, 1.15 million EVs were sold registering over 100% growth. As the EV market attains critical scale, the opportunity for components manufacturers to supply to EV and Charging Infrastructure industry is also gaining ground. That apart, there is a significant opportunity for Indian components manufacturers for export in this segment as well.
It is in this context that ACMA is organizing the 2nd edition of its “Global Summit & Exhibition on EVs - Transforming Mobility” on 31st August & 01 September 2023, at the Manekshaw Center, New Delhi.
Global players in the e-mobility segment from Germany, Korea, Taiwan, UK among others have also been invited to be a part of this event.
The event will also witness eminent leaders from the industry discuss the roadmap and landscape of electric mobility in India.
Plus 18% GST
Plus 18% GST
The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of the Indian Auto Component Industry. Its membership of over 800 manufacturers contributes to more than 85 % of the auto component industry’s turnover in the organized sector. ACMA is an ISO 9001:2015 Certified Association.
ACMA’s charter is to develop a globally competitive Indian Auto Component Industry & strengthen its role in national economic development as also promote business through international alliances.
The automotive value chain which spans across different geographies of the country, is a large, integrated and complex network of OEMs and suppliers. Today, it contributes 6% of the country’s National GDP, 49% of the national Manufacturing GDP and is responsible for over 30 million jobs. The auto component industry is dominated by SMEs, which are the key drivers of India’s economic growth and the ‘Make in India’ program.
The auto component industry manufactures a wide variety of products including engine parts, drive transmission and steering parts, body & chassis, suspension & braking parts, equipment & electrical parts, besides others.
With the normalcy returning to business, post the pandemic, and with vehicle sales and exports gaining momentum, the Auto Component Industry registered a growth of 22% in turnover to Rs.4.21 lakh crore (USD 56.50 billion) for the year 2021-22.
The sales of OEMs during the year 2021-22, in the domestic market stood at Rs.3.41 lakh crore (USD 45.80 billion), growing by 21.40 %, when compared to the previous year.
Exports of auto components witnessed growth of 42.9 % to Rs.1.42 lakh crore (USD 19.00 billion) in 2021-22 from Rs 0.98 lakh crore (USD 13.30 billion) in 2020-21. Exports to Europe saw a growth of 39 percent, while North America & Asia, accounted for growth of 46 % and 40 % respectively.
Component imports rose by 33.20 % to Rs.1.36 lakh crore (USD 18.30 billion) in 2021-22 from Rs.1.02 lakh crore (USD 13.80 billion) in 2020-21. China accounted for 30 % of imports followed by Europe and North America at 39 % and 36 % respectively.
The auto component aftermarket witnessed a growth of 14.50 %. Its turnover in FY 21-22 stood at Rs. 74,203 crore (USD 10.00 billion) compared to Rs. 64,524 crore (USD 8.70 billion) in the previous year.
ACMA’s active involvement in the trade promotion, technology up-gradation, quality enhancement and collection & dissemination of information has made it a vital catalyst for the component industry’s development in India. Its other activities include participation in international trade fairs, sending trade delegations overseas and bringing out publications on various subjects related to the automotive industry.
ACMA also contributes in upgradation of manufacturing practices by skilling & mentoring of its members through various cluster programs and special projects such as ‘Asset Turnover Improvement’, ‘Uptime Improvement’, ‘Zero Defect Quality’ and ‘Sustainable Manufacturing’ among others.
ACMA is also well represented on a number of panels, committees and councils of the Government of India through which it helps in the formulation of policies and regulations pertaining to the Indian automotive industry.
For exchange of information & for co-operation in trade matters, ACMA has signed MoUs with its counterparts in Argentina, Australia, Brazil, Canada, Egypt, France, Germany, Hungary, Iran, Italy, Japan, Kazakhstan, Malaysia, Mexico, Nigeria, Pakistan, Poland, Russia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Taiwan, Thailand, Tunisia, Turkey, UK, Italy, USA and Uzbekistan.
Further information and data on the Indian automotive industry is available on the ACMA Website: www.acma.in