Indian auto acceleration attracts global suppliers; aluminium supply takes centre stage
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As ongoing geopolitical tensions of the Middle East conflict and the resulting inflation and shifting market dynamics bring Europe and the United States to experience a fading demand in the automotive industry, including Ford Motor Company, Stellantis, General Motors, and Volkswagen Group, auto component manufacturers eye the automotive market of India, which has been displaying robust growth. Since the 1991 de-licensing, the sector has been backed by the ‘Make in India’ initiative. The post-pandemic boom cemented India’s position as the fourth-largest player in automobile production on the global platform.
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Although India does not remain untouched by the impacts of the Middle East conflict, which has raised significant concerns in the downstream executives and automakers of the nation, the automobile as well as the auto component industries have nonetheless remained firm and accelerated towards steady, thereby raising the demand for aluminium in the sector.
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