In line with the government's push to make India a key automotive manufacturing hub, the automotive components industry in India is confident that it will export more in 2024. 

Focusing on providing more and more opportunities to Indian auto components manufacturers in terms of exports, the Automotive Components Manufacturers’ Association (ACMA) has been helping them to participate in major auto shows the world over. It is also conducting B2B trade fairs such as iAutoConnect which took place in November 2023 in New Delhi, to ensure good international exposure.  

Clocking a 12.6 percent Y-o-Y growth in the first two quarters (H1) of FY2024, the Indian auto components industry, informed an ACMA source, is riding on a robust domestic demand as well as concentrating on exports to ensure stronger and sustainable growth. 

Reporting sales worth USD 36.1 billion in H1 FY2024 as against sales worth USD 33.9 billion during the same period last financial year, the source mentioned that auto component manufacturers are paying attention to significant value addition by adopting new technologies and bettering their agility to respond to the market requirements in the international as well as the home markets. 

Speaking at a press event in Delhi recently, ACMA President Shradha Suri Marwah averred that the auto component industry is mulling over investing around USD 7 billion over the next five years on capacity expansion and technology upgradation mainly because of the robust demand within the indigenous automobile industry, 

"The components industry continues to make investments for purposes of higher value-addition, technology upgradation, and localisation to stay relevant to both domestic and international customers. The industry is aiming to invest USD 6.5-7 billion in capex over the next five years as compared to USD 3.5-4 billion spent in the last five years. With good performance in sales across segments of the vehicle industry in the festive season, I am optimistic that the current fiscal year will witness another good performance from the auto components sector," Marwah noted.

Speaking on the growth, she iterated, “As vehicles sales started reaching pre-pandemic levels and supply-chain issues witnessed during the pandemic such as availability of semi-conductors, high input raw-material costs and non-availability of containers were mitigated, the auto components sector witnessed a steady growth in both domestic and the international markets in the first-half of FY2023-24.”

The findings of the apex body indicated that the auto component sales to OEMs in the domestic market stood at USD 30.8 billion registering a growth by 13.9 percent compared to the first half of the previous year. Consumption of increased value-added components and the shift in market preference towards larger and more powerful vehicles continued to contribute to the increased turnover of the auto-components sector.

Moreover, exports of auto components grew by 2.7 percent to USD 10.4 billion in H1 FY2024 from USD 10.1 billion in H1 FY2023. North America and Europe accounted for 33 percent of exports witnessing an increase of 2 and 12 percent respectively, while Asia accounted for 24 percent, witnessed a decline of 4 percent.

The imports grew by 3.6 percent from USD 10.2 billion in H1 FY202-23 to USD 10.6 billion in H1 FY2023-24. Asia accounted for 63 percent of imports followed by Europe and North America, with 27 percent and 9 percent respectively. Imports from Asia grew by 2 percent, from Europe by 8 percent and from North America by 2.5 percent.

The aftermarket also registered a modest growth in H1 FY2024 witnessing sales go up by 7.5 per cent to USD 5.5 billion from USD 5.4 billion in H1 FY2023.

Commenting on the performance of the auto component industry in India, ACMA Director General, Vinnie Mehta, said, “With vehicle sales and exports displaying steady performance, the auto component industry demonstrated a growth of 12.6 percent scaling a turnover of Rs. USD 36.1 billion in the first half of FY 2023-24. 

Auto Component supplies to all segments of the industry i.e., to OEMs, exports and also the aftermarket remained steadfast. Exports grew by 2.7 percent to USD 10.4 billion while imports grew by 3.6 percent to USD 10.6 billion. The aftermarket, estimated also witnessed a growth of 7.5 percent. Component sales to OEMs in the domestic market grew by 13.9 percent to Rs.2.54 lakh crore”.

Elaborating on the mood of the industry and outlook for the near to mid-term future, Shradha mentioned, “Going forward, considering the festive season has gone well with significant sales across most segments of the vehicle industry, I am optimistic that the current fiscal year will witness another good performance from the auto components sector. The components industry continues to make investments for purposes of higher value-addition, technology upgradation, and localisation to stay relevant to both domestic and international customers.”

*Image for representative purpose only.

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Cars24 has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, to support India's startup ecosystem through initiatives focused on artificial intelligence, mobility, and road safety.

As per the agreement, Cars24 will establish structured programmes for early-stage founders, granting access to its infrastructure, mentor network, funding sources, market connections and technical resources. In turn, the DPIIT will facilitate national outreach and ecosystem integration via the Startup India platform, supporting knowledge exchange, co-branding and policy engagement.

The partnership encompasses five specific areas of operation: mentorship for early-stage founders via the Cars24 Founders' Fellowship, training through Mobility and Autotech Skilling Programmes, technical support and AI integration via Cars24 Labs, investor connections through Fuel by Cars24 and the organisation of an annual Innovation Challenge and Road Safety Hackathon alongside the DPIIT.

Vikram Chopra, Builder, Cars24, said, “Cars24 is proof that Indian founders can start with a difficult, everyday problem and build something on a national scale. We want to pass that possibility on. Through this partnership with DPIIT, we are backing the next generation of builders with more than advice. We want to give them access, capital, talent and a real platform to test ideas that can make India move smarter and safer.”

A senior DPIIT official commented, “Industry participation is central to strengthening India’s startup ecosystem. Collaborations of this kind, where an established market leader opens up its scale, mentorship and resources to early-stage founders, are exactly the bridge between ambition and execution that young startups need. We welcome Cars24’s commitment to mentoring, skilling and supporting product startups across the country.”

The non-binding MoU establishes a framework for ongoing collaboration between both entities to foster technology adoption and entrepreneurship within the Indian mobility sector.

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NXP Semiconductors has announced that the BMW Group will deploy its Trimension NCJ29D6 Ultra-Wideband (UWB) family across its vehicle fleet, beginning with selected 2026 production programmes.

The hardware component integrates fine-ranging capabilities with short-range radar functionality on a single chip. This allows vehicle manufacturers to utilise a single system for multiple applications, including hands-free vehicle entry and occupant presence detection.

The integration supports BMW’s Digital Key Plus feature, which enables vehicle owners to substitute key fobs with smartphones or smartwatches. The system manages locking and unlocking functions as the user approaches or moves away from the vehicle. Additionally, the technology includes in-cabin radar monitoring designed to identify motion patterns consistent with occupants or animals left inside a parked vehicle, sending notification alerts to users to align with European and Chinese NCAP assessment protocols.

Markus Staeblein, Senior Vice-President and General Manager, Secure Car Access at NXP Semiconductors, said, “NXP’s proven Trimension UWB platform maximises value for OEMs, using a single system to deliver multiple new and differentiating features for drivers. Digital key and presence detection are just the beginning. OEMs will be able to deliver additional UWB-based features, such as kick sensing, intrusion alert or automatic charging, as they establish the secure hardware platform in their vehicles.”

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Envalior India, an engineering materials company formed through the merger of DSM Engineering Materials and LANXESS High Performance Materials, will inaugurate the Envalior Centre of Excellence in Electric Vehicle Technology on 5 August 2026 as part of its corporate social responsibility (CSR) program.

The CoE located at Marathwada Mitra Mandal's Polytechnic in Pimpri-Chinchwad, Pune, will be implemented by the BroadArks Foundation to provide vocational training in electric vehicle systems.

It plans to train 250 individuals annually through two courses: a Level 4 Certificate in EV Service, Safety & Maintenance and a Level 5 Advanced Certificate in EV Diagnostics & Systems.

The curricula align with the National Skills Qualifications Framework and carry certification support from the Confederation of Indian Industry. The programs target students from Industrial Training Institutes and polytechnics studying mechanical, electrical, electronics, mechatronics and computer science disciplines.

Training instruction covers classroom coursework and laboratory modules focused on vehicle architecture, battery management systems, charging infrastructure, thermal management, power electronics, diagnostics and workshop safety protocols. Practical assessments and industry projects form part of the curriculum structure.

Nileshkumar Kukalyekar, Business Director – South Asia, Middle East & Africa, Envalior, said, "The launch of the Envalior Centre of Excellence reflects our commitment to supporting India's transition towards electric mobility by investing in the people who will power it. Through this Centre, we aim to provide students with industry-aligned, hands-on training that prepares them for the evolving demands of the EV sector while contributing to a stronger and future-ready workforce."

In addition to student instruction, the facility is designed to support laboratory infrastructure and instructor development programs for technical education in the region.

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South Korean auto major Hyundai Motor Group has appointed Junghyun Kwon as Executive Vice-President and Head of the Autonomous Driving Development Center.

Kwon will oversee software engineering, deep learning integration, perception systems and commercialisation pathways for the group's autonomous mobility programs, reporting directly to Minwoo Park, President and Head of the Advanced Vehicle Platform (AVP) Division.

He joins the group following technical management roles in software development and artificial intelligence across international technology firms. Kwon previously managed autonomous driving software development and deployment at NVIDIA before directing intelligent robotics development at Samsung Electronics. His technical background covers machine learning models, computer vision systems and vehicle perception frameworks.

The executive appointment forms part of a broader recruitment sequence targeting software-defined vehicle architectures and autonomous driving systems.

Earlier in July, Hyundai Motor Group appointed Dongwuk Kim as Senior Vice-President and Head of the SDV Platform Development Center, following his work on wireless communication systems for mobile devices, robotics and vehicles at Apple and Tesla. The group also added Jeremy Ma as Senior Vice-President and Head of AVP Silicon Valley, drawing on his experience in robotics and autonomous systems at Apple, Toyota Research Institute and NVIDIA.

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