India's Auto Component Industry Projected to Reach $80 Billion by 2026 with Major Manufacturers Leading Growth
India's automotive components sector is expected to reach $80 billion by 2026, contributing 5-7% to the nation's GDP, following a projected turnover of INR 6.14 trillion in FY24. Major manufacturers like Samvardhana Motherson and Bharat Forge are driving growth through strategic expansions and defense contracts, while investments in new facilities, such as UNO Minda's alloy wheel plant, further bolster the industry's outlook. The sector is anticipated to grow to $145 billion by 2030, fueled by robust domestic demand and increasing exports.
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India's automotive components sector is projected to contribute 5-7% to the country's GDP by 2026, driven by a record turnover of INR 6.14 trillion (US$73.1 billion) in FY24, representing a 9.8% increase. Major players like Samvardhana Motherson, with an operating revenue of about 987 billion INR in FY24, are expanding through acquisitions and a bonus share issue.
Bharat Forge has secured defense contracts worth 69 billion INR and is poised to benefit from the 'China Plus One' trend. UNO Minda plans a Rs. 2 billion investment for a new alloy wheel facility in Haryana, set to produce 1.5 million units annually from FY27.
Sona Comstar reported record revenues in Q2 FY2026, with BEV components making up 32% of revenue. The industry is on track to reach $145 billion by 2030, supported by strong domestic demand and exports.
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