New Delhi, Sept. 16 -- India's auto-component industry is set to touch the USD 200 billion mark by 2030, driven by cost competitiveness, a skilled workforce, and expanding domestic and export markets, according to a report by McKinsey & Company.

The study, 'Shaping the Future of India's Auto Component Industry Amid Global Trade Shifts', noted that global trade patterns are undergoing a major transformation due to geopolitical and structural changes.

By 2035, an estimated USD 12 trillion to USD 14 trillion worth of trade is expected to shift across corridors. Despite these realignments, global trade is forecast to rise from USD 33 trillion in 2024 to between USD 42 trillion and USD 45 trillion by 2035.

The auto-component sector has reco...