8SEPTEMBER, 2025INDIA AUTO COMPONENTS MARKET TO TOUCH $200 BN BY 2030INDIA UNVEILS MAJOR PROGRAM TO BOOST GREEN HYDROGEN STARTUPSAmid changing global trade patterns, India is emerging as a key player helped by its cost competitiveness and skilled workforce, and the Indian auto-component industry is thus projected to touch $200 billion mark by 2030, a report by McKinsey says.This research indicates that the rapid expansion is being fueled by the changing geopolitical and structural trade dynamics as well as the cost competitiveness of India and its highly skilled labor force.Shaping the future of India auto component industry amid global trade shifts, the report points out that, despite the constant disruptions, global trade will grow to as much as 33 trillion in 2024 and even rise to up to 45 trillion by 2035.In this evolving environment, India has been gradually seizing some opportunities both in the domestic arena and the export arena where the auto components industry has registered a formidable 10 percent CAGR during the last five years.The sales of auto components in the domestic sector are anticipated to rise 7-8 percent/year by the year 2030 due to the increase in vehicle manufacturing, use of part per vehicle, and the use of new technologies. At the export front, India may achieve a share of $70-100 billion, with the biggest export opportunities in internal combustion engines of 20-30 billion and the large domestic electric vehicle market of 35 percent CAGR.Another approach being strengthened by industry players to increase the resilience of supply chains is through increased production at local levels, diversification of suppliers and investments in low-risk locales. India is emerging as an essential node in the changing global automobile ecosphere as firms around the world consider stability outside of China. As Union Minister for New and Renewable Energy Pralhad Joshi opened the first Annual Green Hydrogen R&D Conference in New Delhi on Thursday, the Indian government announced a Rs 100-crore program to assist companies developing green hydrogen technologies.The program, which was unveiled at the Ministry of New and Renewable Energy's (MNRE) two-day conference, would award subsidies of up to Rs 5 crore per project to entrepreneurs testing solutions for the generation, storage, transportation, and use of hydrogen. From the production of electrolysers to AI-driven optimization and biological hydrogen solutions, 25 startups are exhibiting their technology.In addition to exchanging ideas, Joshi emphasized that the conference's goal was to transform research into workable solutions that could power companies, clean cities, and generate thousands of new jobs throughout India.Using four pillars--policy support, demand generation, research and development, and enabling infrastructure, he linked the statement to Prime Minister Narendra Modi's National Green Hydrogen Mission (NGHM), which was established in 2023 with an investment of 19,744crore.In his overview of the mission's progress, the minister mentioned that 23 projects addressing safety and integration, biomass-based hydrogen production, hydrogen applications, and non-biomass routes had been awarded in the first round of R&D proposals. They are being continued by top research institutions including IITs, IISERs, CSIR labs, and business partners. Announced in July, a second request for proposals is still open through September 15. TOP STORIES8SEPTEMBER, 2025
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