India - Automobile aftermarket products for luxury or premium segment vehicles
This is a business opportunity from an overseas buyer. Pitch for the business and explain how your company meets their requirements.
Details
- Opportunity closing date
- 31 March 2024
- Opportunity publication date
- 26 February 2024
- Opportunity type
-
- Industry
- Automotive
- Enquiries received
- 1
- Value of contract
- to be confirmed
- Your guide to exporting
Description
An Indian company is looking to import the automobile aftermarket components specific to the luxury / premium segment vehicles (JLR, BMW, Mini, Benz, Rolls-Royce and other sports cars).
The Indian company wants to speak only to UK-based manufacturers or suppliers. They will not engage with third party intermediaries or consultants.
India is the world's third-largest Automobile market producing a total 25 million vehicles including:
- passenger vehicles
- commercial vehicles
- 3-wheelers
- 2-wheelers
- quadricycles
India's luxury car market size was valued at £800 Million in 2022 and is projected to reach £1.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030.
The Indian automotive industry is expected to reach £250 billion, where the auto components industry is expected to grow to £160 billion and the automotive aftermarket segment is expected to reach £25 billion by 2026 as per the government (IBEF).
- Opportunity closing date
- 31 March 2024
- Value of contract
- to be confirmed
- The buyer is happy to talk to
- manufacturers, wholesalers, distributors
The deadline to apply for this opportunity has passed.
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