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The rise of technology in the auto components manufacturing sector globally and its by-products such as mobility, connectivity, fuel efficiency, electric cars and autonomous driving, have brought forward a huge playfield for the Indian manufacturers to innovate and compete globally. The Indian auto components sector is already driving innovation, and increasing its investments in R&D. The future of the automotive space is inching faster towards electric and digital solutions.
The global automotive industry is going through disruption. Digitization, automation and new business models are revolutionizing the industry, and the automotive industry is facing similar challenges. The Indian automotive industry has also started experiencing the global disruption effects now. With global mobility trends, India is set to witness major changes in the form of technology-driven trends like electric vehicles (EV), shared mobility, connectivity and autonomous driving, along with stricter emission norms (Bharat Stage VI) & safety norms. The immediate opportunities for the Indian Auto industry are technology, safety norms, emissions regulation, changing customer preference and digitization
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