New Delhi, April 14 -- India's auto-component manufacturing industry is projected to double from USD 70 billion in 2022 to USD 145 billion by 2030, according to a new report published by Niti Aayog.

The government think tank also forecasts component exports to treble to USD 60 billion by 2030 from the current USD 20 billion.

"This growth would position India as a formidable player in global markets, achieving a trade surplus of USD 25 billion and increasing its share in the global value chain (GVC) of auto components from 3 per cent to 8 per cent," the report states.

To realise this ambitious growth trajectory, the report outlines comprehensive interventions across multiple domains.

It recommends fiscal measures including operational ...