India Auto Parts Industry to Grow 10% CAGR to 2030

India’s auto parts makers are expected to grow a lot in the next few years.

A big bank, Goldman Sachs, says the industry will grow about 10% each year until 2030.

That means the money they make will go from about $85.6 billion in 2026 to $124.4 billion in 2030.

The companies are also making more profit, with earnings growing even faster.

They are moving into new areas like making parts for cars that use electricity, for computers, and for defence and space.

This shift, plus lower wages and more demand from other countries, is helping the industry grow faster than car makers themselves.