About this product:
India’s automotive components industry manufactures almost the entire range of parts required by the domestic industry for various types of vehicles. The total domestic production of automotive components in FY 2004 was estimated at $7 billion. Of this, the organized sector accounted for 77% of the total value of production with the rest coming from the unorganized sector. There is a huge unorganized sector that typically caters to the demands from the replacement market. The unorganized sector, in turn, is a low-cost sector with fiscal liabilities (in terms of excise duties) not being accounted for. As a result, the unorganized sector is able to supply the replacement market with significantly lower-priced parts.