New Delhi, Aug. 11 -- Indian auto component manufacturers have a significant opportunity to expand their exports, particularly in the independent aftermarket segment, according to a report by EY-Parthenon.

The report highlighted that the global auto component market offers strong growth prospects for Indian suppliers, with countries like Brazil, Indonesia, Colombia, and various African regions showing significant potential.

It stated, "The global auto component market, especially the independent aftermarket presents a large opportunity for our industry".

The study in the report divides the opportunity into two broad market categories, mature markets with substantial consumption and developing markets with strategic trade advantages.

A...