Auto News Aug - Sept 2018 | Anniversary issue
It gives me immense pleasure to introduce this anniversary special to our readers. The automotive industry is passing through one of the most exciting times. The industry growth indicators paint a picture of optimism of India - by 2020 , it could be the world's fifth -largest economy with a GDP of USD 4.7 tn. Anticipation of a growing consumer class, enhances ease of doing business, expanding infrastructure -such favorable factors could propel the country forward, and, with it, India's automobile industry. The Indian automotive OEM industry is already in a strong position. Globally India's automotive industry is at the forefront of many segment-leading in two-wheelers, cars and tractors. To take peek into the future of what lies for the auto component industry, ACMA organized its annual session themes "Auto Component Industry in India: Preparing for the future ". ACMA along with Mckinsey prepared a study on the mentioned theme. The study reveals that there are tremendous opportunities that await the auto component industry on the back of the growing vehicle consumption in India.