Automobile Parts In India.

The Indian automobile components industry has witnessed a great deal of transformation in the past decade owing to globalization and the country’s economic liberalization. The Indian auto-component sector which once catered only to the domestic needs has now become a major focal point for many of the global auto makers to build their facilities. By the year 2015, the Indian auto components outsourcing market is expected to be worth US$700 billion with automobile leaders such as, Toyota, GM, Ford, Volkswagen, etc. already sourcing components worth millions. The major driving factor in India has always been its low cost labor and raw materials. However, the advent of twentieth century has seen foreign investors moving their manufacturing bases to India due to the country’s improved quality level and highly skilled manpower.