India's Auto Component Industry Projected to Reach $80 Billion by 2026 with Major Manufacturers Leading Growth
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.
