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Indian Auto Parts exports grew by 4.4 per cent, stand at $ 9.7 billion for the FY 2013

  • India′s auto industry is going through a sluggish phase, here is something for component makers to cherish as exports have grown by 4.4 per cent to touch $ 9.69 billion in 2013.

    Despite a decline in import by 5 per cent to $ 12.70 billion last year, the company refrained a net importer of components, as is shown by Automotive Component Manufacturers Association of India (ACMA) showed. The main attraction of this export transaction is that 80 per cent of the exports are to global original equipment manufacturers (OEM′s) and tier I companies. Domestic auto parts manufacturers have won the confidence of global companies that further result into setting up their sourcing centres in India. There are about 35-40 international purchasing offices set up by various global entities in India now.

    The US remains India′s biggest auto component export market but it is down by 7.1 per cent last year at $ 1.98 billion. Germany is the second largest market with increase of 8.6 percent at $ 780 million, while it was up 3.6 per cent to the UK, the third largest at $ 580 million.

    China remains the number one country from where maximum components were imported and valued at $ 2.62 billion in 2013, with an increase of 10 per cent over the previous year. Germany was second at $ 1.86 billion, down 3 per cent, followed by Japan at $ 1.62 billion, down by 14 per cent. India is mainly importing auto parts in two categories, namely, high tech parts, which come mainly from Germany, Japan, Korea and Thailand, and aftermarket parts that are usually coming from China.

    Annual car sales in India had witnessed a decline of 9.59 per cent in the year 2013, which is first time in last 11 years. Indian auto industry is bearing the brunt of economical slowdown in the country. According to the society of Indian Automobile industry (SIAM), domestic car sales fell from 19,98,703 units in 2012 to 18,07,011 units in 2013.

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