Hanif Qureshi, Additional Secretary at the Ministry of Heavy Industries, stated that the Indian auto component industry could play a key role in the country's exports.

He noted that India currently holds a 3% share in global auto component trade, with approximately 40 to 45% of this comprising engines and engine components. He made these remarks during the 65th annual conclave of SIAM.

The Government aims to raise this share from 3% to 8% through expansion in the auto component sector. Localisation initiatives, supported by schemes such as PLI, FAME, and PM e-Drive Mobility, are contributing to the supply chain, supporting tier 2, 3 and 4 component manufacturers, reducing costs, and strengthening industry operations.

In addition to localisation, Qureshi referred to the growth of electric vehicles in India, with the FAME scheme contributing to adoption.

Under the PM e-Drive scheme, plans are in place to install 22,000 chargers for four-wheelers and 44,000 chargers for two and three-wheelers, trucks, and buses.

Qureshi stated that the industry is projected to invest Rs. 550 billion (US$ 6.6 billion) in the coming years, with a focus on electric heavy vehicles. The largest EV bus tender, covering 10,900 buses, is currently underway. A nationwide unified platform for chargers is also being developed.

He explained that the framework, prepared in consultation with the MPCI, will create a national hub to enable users to locate chargers, book slots, and make payments through a single system.

Qureshi added that the initiative involves the participation of key stakeholders and ministries to address future requirements, challenges and growth strategies.