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Date: 26/03/2025

Automotive component industry seen expanding by 8-10 pc in FY26: ICRA

India’s automotive component industry is expected to maintain a steady growth trajectory and expand by 8-10% in FY26, according to credit rating agency ICRA. The sector is projected to witness a moderate expansion of 7-9% in FY25. This growth will be driven by strong export performance, increasing localisation of electric vehicle (EV) components, and rising demand in the aftermarket. The sector will incur capital expenditure (capex) of Rs 25,000-30,000 crore in FY26, focusing on capacity expansion, localisation and technological advancements, including EV components. Exports, which constitute nearly 30% of the industry’s revenue, may face challenges due to sluggish vehicle registration growth in key markets. However, vendor diversification by global OEMs and Tier-1 suppliers, coupled with increased outsourcing, is expected to support growth, said a report.
 
Source: Exim News Service: New Delhi, March 25



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