New Delhi, Sept. 1 -- India's auto component manufacturers stand at the forefront of the country's manufacturing sector, having nearly doubled in size over the past five years and clocking a turnover of Rs.6.73 trillion ($80.2 billion) in FY25-a 9.6% year-on-year rise - with a healthy CAGR of 14% since FY20.

This remarkable growth is powered by robust domestic demand, technology advancements, and increased exports, which surged 8% to $22.9 billion in FY25, resulting in a trade surplus of $453 million. The aftermarket segment, catering to spares and vehicle repairs, grew 6% to Rs.99,948 crore as used vehicles and formalized repair networks expanded nationwide.

Auto component firms face several structural difficulties. These include globa...