|
Auto Parts & Accessories The world's top car makers turn to India for the nuts and bolts of their vehicles. Riding this success, and capitalising on the spiralling demand of domestic auto companies, the Indian automobile components industry has emerged as one of India's fastest growing manufacturing sectors, and a globally competitive one Indian auto component-manufacturing base had been rapidly evolving, it needed some time to be able to produce all the components required by the foreign manufacturers for their vehicle models. This meant that the foreign manufacturers had to source most of their component requirement from abroad, which in turn translated into a large foreign exchange outflow from the country.
|
