India’s automobile industry has emerged as a major player in the global market, owing to its cost-effective manufacturing and skilled workforce. One of the significant contributors to India’s automobile sector is the manufacturing and export of spare parts. The country has been exporting a considerable volume of spare parts to several countries worldwide, and Vietnam is one of them.
India’s automobile spare exports to Vietnam have witnessed a significant surge over the past few years. In recent years, India’s export of auto components to Vietnam has been valued at millions of dollars. This rise in export can be attributed to various factors such as favourable government policies, increasing demand for spare parts, and the growing business relationship between India and Vietnam.
The primary automobile spare parts that India exports to Vietnam include engine parts, transmission parts, suspension and steering parts, brake parts, electrical parts, and body parts.
Furthermore, the Indian government’s policies such as the Make in India initiative and the Atmanirbhar Bharat Abhiyan have also played a crucial role in boosting India’s automobile spare exports to Vietnam. These policies aim to promote domestic manufacturing, increase production capacity, and reduce dependence on imports, which in turn helps Indian companies to expand their businesses globally.
In conclusion, the automobile spare parts manufacturing industry in India has been growing steadily, and Vietnam has emerged as a significant market for India’s auto component exports. With the support of favourable government policies and the continued demand for spare parts, India’s automobile spare exports to Vietnam are expected to continue growing in the coming years.
