India can be a global auto hub by 2035 with the industry reaching the size of $1 trillion, says Arthur D. Little
The Hindu
India has the potential to become a global auto hub by 2035 and the automotive industry could grow to the size of $1 trillion [including $500 billion from exports] by then driven by exports, technology, and innovation, said management consulting firm Arthur D. Little in a report.
India has the potential to become a global auto hub by 2035 and the automotive industry could grow to the size of $1 trillion [including $500 billion from exports] by then driven by exports, technology, and innovation, said management consulting firm Arthur D. Little in a report.
“India’s automotive industry can become a global hub for design, development, and production, appealing to international markets,” Barnik Chitran Maitra, Managing Partner, Arthur D. Little, India & South Asia. “To achieve this, players across the industry must upgrade their capabilities for reliable and competitive global manufacturing,” he added.
“India’s strength in automotive software and ER&D [Engineering Research & Development| can thrive by offering solutions aligned with emerging trends like zonal architecture and Advanced Driver Assistance Systems (ADAS). India has the potential to be an automotive innovation leader, with a thriving well-funded startup ecosystem,” he said.
“To ensure global competitiveness, the Indian industry needs to drive operational efficiency across the value chain and lead a transition to sustainable materials in line with evolving international regulations and global commitments,” he added.
The report highlights the increasing pace of innovation within the local automotive ecosystem and the shifting dynamics of disruption, which if harnessed effectively, can catapult India into a position of global automotive leadership.
It also identifies five pillars that must be strengthened to create a leadership position for India in the global automotive industry.
These include India becoming a destination for global platforms; turning an automotive software & ER&D powerhouse; transforming into a new epicenter for technology, innovation & partnerships; having operations excellence at scale and leapfrogging to sustainable materials and circular economy.
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