Automobile parts market grew at a furious pace - exceeding 6% CAGR between 2017 to 2020 - reaching dollar 49.3 billion by 2020. Exports grew at over 7% CAGR during same period. Auto accessories and auto electricals sectors also experienced high growth till 2020. The auto ancillary industry manufacturing auto parts like gearbox, engine, fasteners, steering, tyre, tube, radiator etc. are also experiencing fast growth.
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