June 2006 management briefing
This month’s briefing looks at Indias’ automotive industry, it gives a political and economic overview, light vehicle market, and the manufacturing and components industry. The manufacturing sector has registered a steady growth in the past few years. Exports of manufactured goods from India surpassed US$22bn in 2005, up from US$6bn in 2000, and the Indian automotive supplier industry’s sales are expected to grow by around 14% in 2006 and 15 to 16% in 2007. Growth would be driven by strong demand for automobiles in the country, and high growth in exports of components. India is fast becoming a global outsourcing and strong skills base, and with the emergence of Indian suppliers into the global market, the Indian manufacturing industry is gearing up for expansion.