Indian Automotive Component Industry: A Retrospective and Prospective Analysis in the Coronavirus Era

The Indian automotive industry, a cornerstone of the country's economy, has exhibited remarkable growth over the decades. The automotive components sector, in particular, has been pivotal in driving economic development, contributing 2.3% to the GDP and directly or indirectly employing 1.5 million people. India’s favourable investment climate—characterized by sound government policies, rising purchasing power, a vast domestic market, and ongoing infrastructural development—has attracted significant global interest. This research paper delves into the evolution of the Indian automotive component industry during the coronavirus pandemic, examining key trends and patterns. The study utilizes secondary data published by the Auto Component Manufactures Association (ACMA) to explore crucial future indicators and analyze the industry's response to the global pandemic, necessitating adaptations in business practices, patterns, and paradigms.