India new growth engine for global auto parts firms
new delhi, May 5 -- Rising safety standards and a shift toward more electronics-heavy vehicles are turning India into a key growth market for global auto component makers, particularly mid-sized and niche suppliers looking to offset slowing demand in Western markets.
Companies such as Autoliv, Visteon Corporation and Mobileye Global Inc have flagged India as a key growth driver in recent earnings, citing rising demand from local carmakers for advanced safety systems, cockpit electronics and driver-assistance technologies.
The demand is being led by domestic manufacturers such as Tata Motors and Mahindra & Mahindra (M&M), which are expanding their electric vehicle (EV) line-ups while adding features across internal combustion engine (ICE) mo...
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