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Indian Auto Components Industry
Scope eKnowledge Center Pvt Ltd, Jan 2001, Pages: 31
The Indian auto ancillary industry has come a long way since it had its small beginnings in the 1940s. If the evolution of the industry is traced in India, it can be classified into three distinct phases namely: Period prior to the entry of Maruti Udhyog Ltd, Period after the entry of Maruti Udhyog Ltd and Period post Liberalization. The period prior to the entry of Maruti Udhyog Ltd was characterized by small number of auto majors like Hindustan Motors, Premier Automobiles, Telco, Bajaj, Mahindra and Mahindra, low technology and assured business for most of the auto-component manufacturers.
The entry of Maruti in the 1980s marked the beginning of the second phase of the industry. The autoancillary industry in the country really showed a spurt in growth during this period. This period witnessed the emergence of a new generation of auto ancillary manufacturers who were required to meet the stringent quality standards of Maruti’s Korean collaborator Suzuki of Japan. The good performance of Maruti resulted in a upswing for the domestic auto ancillary industry. It was during this period that auto components from India began to be exported.
The entry of foreign automobile manufacturers ranging from Mercedes Benz, Ford, and General Motors to Daewoo following the government liberalizing the foreign investment limits saw the beginning of the third phase of the evolution of the industry. The auto anciallry industry witnessed huge capacity expansions and modernization initiatives in the post liberalization period. Technological collaborations and equity partnerships with world leaders in auto components became a common affair. However, the global automobile majors soon realized the folly of their estimations in India. The market did not seem to be as big as it appeared to be. Hence, sales targets went awry. The tough competitive scenario saw a lot of consolidation in the industry and it still continues unabated.
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