New Delhi, Aug. 10 -- India is emerging as a pivotal player in the global automotive supply chain, as multinational automakers adopt the "China + 1" strategy to diversify operations and reduce dependence on China. According to a joint report by EY and Parthenon, the country is fast becoming a preferred hub for manufacturing and exporting auto components.

The "China + 1" approach began as companies sought an additional base alongside China to lower risks in their supply chains, Hindustan Times reported, citing the study.

Rising manufacturing costs, geopolitical tensions, and trade uncertainties are pushing firms to spread production beyond China.

While policy support and cost advantages are strong draws, experts caution that Indian firm...