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The current exports of auto components from India are US $ 1.4 billion and the average growth rate over the last 2-3 years has been +30% on an annual basis.
According to estimates, by 2015, the global auto component market would be US $ 1.7 trillion in size. Out of this total market, US $ 1 trillion would be made in the major automotive countries like USA, EU and Japan and US $ 700 billion would be amenable to outsourcing from low cost countries like India. According to Automotive Component Manufacturers Association, India has the potential of bagging upto US $ 20-25 billion business in global outsourcing.
SB/SS/MRS
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