Mumbai, Nov. 13 -- Geopolitical shifts in global trade are positioning India's auto component industry as a key player in the international supply chain, with projections indicating the sector's value could soar to USD 200 billion (EUR 160 billion) by 2030 said a recent report by McKinsey.

The report suggests that as an estimated USD 12 trillion to USD 14 trillion in global trade is expected to shift across corridors by 2035, India, aided by its cost competitiveness and skilled workforce, is emerging as a primary beneficiary. The Indian auto component industry has already experienced a compound annual growth rate (CAGR) of about 10 percent over the last five years.

The projected growth of the industry is underpinned by a two-pronged str...