For long, they were the unsung heroes of the automotive industry. They were the silent warriors who put together a car and two-wheeler but remained in the background simply because the end product constantly took prominence.
Today, India’s component industry is no longer the hidden face behind a veil but represents a robust ecosystem that has done the country proud. This is more than evident at the components exhibition now underway at Yashobhoomi in Delhi under the Bharat Mobility Global Expo umbrella.
The massive interest shown here is reflective of the coming of age of component makers, some of whom are in a completely different league. The likes of Motherson, Uno Minda, Sona Comstar, Lumax, Spark Minda, Varroc, Endurance, Bharat Forge and many others are formidable names to reckon with in the market place, both here and abroad. Some like Motherson, in particular, are top reference benchmarks for quality and excellence.
The earlier editions of the Auto Expo — as it was then called before the recent rechristening of Bharat Mobility — had both vehicle and component manufacturers housed together in the rickety premises of Pragati Maidan. There was no question that cars and bikes were the biggest draws for the vast crowds that would throng the venue and ogle all the offerings on display.
Serious business
On the other hand, the component stalls had the true B2B customers come over comprising vehicle makers, the aftermarket and so on. This was serious business where new products were given a serious look and a lot of networking took place. Yet, the coming together of a B2C and B2B platform was really not a great idea because it did not give component manufacturers the time and attention they were seeking for from their customers.
In a sense, wisdom finally prevailed in later years when the show was split thanks largely to the rapid deterioration of infrastructure at Pragati Maidan which only necessitated a much needed makeover. While the vehicle makers found a new home at distant Greater Noida, the supplier fraternity continued at the crumbling Pragati Maidan venue even while they finally found their own place in the sun.
Bharat Mobility Expo 2025 has finally changed the script and the Yashobhoomi Convention Centre at Dwarka has been the best piece of news for component makers. More than the right kind of people coming in, the arrangements have been quite impressive along with easier access thanks to the Metro. CEOs have welcomed the new environment with some even insisting that it is almost at par with global events in terms of facilities.
The vast number of stalls and pavilions across the halls is a strong message that the component industry stands tall in India’s automotive arena. The array of pathbreaking innovations and positive energy all around clearly shows that the stakeholders are raring to go in this new era of mobility disruption.
Confident generation
The new generation of CEOs are super confident about meeting the challenges of electric and understand what it takes to succeed in this new digital age. Many companies are owner-driven and it was refreshing to see how comfortably the baton has been passed on from father to son/daughter.
The growing youth power is also reflective of India’s own age demographics where the under 30s are powering the future of the country thanks to their competencies in IT and software. These young CEOs are well travelled, have studied in top universities in the US/UK, are active on social media and not remotely overawed by the challenges ahead. They are on top of the game in technology and ambitious in taking their company to the next level of growth.
All this augurs well for India’s component industry which now needs to realise its full potential and become a far more active part of global trade. The share is still minuscule and hardly reflective of the actual potential within the ecosystem. As industry observers say, the time has come for Indian suppliers to truly begin firing on all cylinders.
Best yet to come
After all, the strengths offered in terms of the best mix of competitive costing and high quality should logically mean that India remains the preferred destination for sourcing parts. Sure, this is happening at a reasonable pace but not fast enough to make a mark on the world stage yet.
A former industry CEO believes that the beginning has just been made and the best is yet to come going by the reality that the country still imports a whole lot of components despite its obvious strengths. For instance, India exports around $25 billion worth of automotive parts but ends up importing the same value which means zero net exports in all.
Now why is this is happening in a low cost country with the most independent supplier base among developing markets? It just does not add up. As this senior official said, the landed cost to Western Europe, the US, Korea and Japan will be at least 10-15% lower from India than any other market.
“Even OEMs manufacturing in India will tell you that it is 10-15% less expensive when made (in India).” Clearly, food for thought even while the component industry has evolved admirably during these years.
