The auto component companies in the Indian market have recently said that they expect a close to four-fold growth in the industry by the year 2020. It is to be mentioned here that the industry body, Automobile Component Makers Association recently said that it expect the industry to reach a figure of to $113 billion by 2020.

It may be noted here that a similar growth is expected in the automobile industry as well. There is no denying to the fact that the growth of the automobile industry in the Indian market is directly proportional to the growth of the component industry and vice versa.

It is to be mentioned here that ACMA executive director Vinnie Mehta pointed out the fact that the Indian market will be among the top five vehicle producing countries by 2020. ACMA president Jayant Davar said that there has been a rise in imports from regions like China and Singapore.

Moreover, Davar also mentioned the fact that the association has asked the government to take corrective measures against the same. For the record, the Indian vehicles industry is seeing one of the fastest growths globally at about 30 percent.