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Auto Parts Budget Expected to Boost Next Year

According to a Nasscom-ACMA research, the budget of 90 percent of auto parts manufacturers is projected to advance next year.  

Reports show that during the 2005-2006 period, majority of auto parts makers obtained a twelve-monthly funds of Rs 20 lakh.  In the coming year, experts anticipate that there will be a significant boost in the figures.

Nasscom recently sent out a report entitled IT Adoption in the Indian Auto Component Industry. The report was released in order to help the auto parts industry achieve its objective of attaining 40 billion dollar growth by 2015. It was made to comprehend the challenges brought by IT adoption that many auto parts manufacturers will certainly encounter. In addition to that, the report discloses that maintenance of hardware is a task that many auto parts firm usually outsource.

“The strong performance of the Indian auto-component sector in the past few years has led to rightfully considering it a sunrise sector of the Indian economy,” said Nasscom President Kiran Karnik.

“We see IT playing a very critical role in helping this sector achieve its global aspirations.”

“The manufacturing sector in India is critical to sustaining the growth of the Indian economy. IT has the potential to act as a force multiplier for the Indian auto-component industry,” added National Manufacturing Competitive Council Chairman Krishnamurthy.