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Industry- Automotive
The industry for auto & auto components since 2000 (as trends indicate), has been transforming from being highly domestic-centric, to a force ready to face global competition. Entry of global OEMs has transformed the Indian automobile and auto components landscape. India is being perceived as a major market for cars and two wheelers by global OEMs.
Extending their reach to global markets is the pre-dominant outlook among the top auto component manufacturers in the country. The vision to compete globally comes from the inherent strengths that the Indian auto component industry possesses.
Investments in research and development, coming in from global OEMs stand out positively in favour of India. Key players are not only willing to invest in R&D, but also in mechanical and engineering operations.
There are lower labour costs, easy availability of raw materials, established quality systems, and cost reduction of 25-30% in production in the domestic market compared to overseas.
How Tecnova Can Help?
Tecnova has successfully assisted numerous clients (both foreign and domestic) set-up or expand their operations in the booming Indian automotive market. From market-analysis to business set-ups, Tecnova delivers the ‘India-Advantage’ to their clients. Our clients in this sector include General Motors (US), Wellman Products (US), Polaris Industries (US), Volkswagen (Germany), Fras-le (US).
Tecnova offers following services to its automotive clients: