New Delhi, July 23 -- India's precision machining and auto parts industry is expected to grow at a 10 per cent annual revenue rate between FY26 and FY30, driven by diversification into sectors such as semiconductors, defence, aerospace, electric vehicles (EVs) and data centres, according to a Goldman Sachs report.

The report said Indian auto component manufacturers are undergoing a structural transformation by expanding beyond traditional automotive supply chains into adjacent high-growth industries, supported by increasing investments in precision machining, tooling and manufacturing capabilities.

"We expect the Indian auto parts industry, supported by the transition to precision machining, to grow revenue by +7%/+12%/+10% in FY27E/FY2...