Automobile Components Industry in India SUMMARY 2nd largest steel producer by 2015. 4th largest steel producer in the world. USD 39.7 Billion turnover in 2012-13. 17% increase in exports during 2008-13. USD 9.7 Billion in exports for 2012-13. REASONS TO INVEST An emerging global hub for sourcing auto components. Geographically closer to key automotive markets like the ASEAN, Japan, Korea and Europe. Cost competitiveness. Fourth largest producer of steel in the world. Cost of making steel significantly lower than competitive nations. Slated to become the second largest steel producer by 2015. Several global Tier-I suppliers have announced plans to increase procurement from their Indian subsidiaries. STATISTICS Turnover of USD 39.7 Billion in 2012–13. Growth expected to reach USD 115 Billion by 2020-21. Market estimated to become the third largest in the world by 2016, accounting for more than 5% of global vehicle sales. Expected to become the f...