An industry body has predicted that the Indian automotive industry will create one million new jobs over the next decade.

According to the Automotive Component Manufacturers Association of India (ACMA), positions in the field will boom between now and 2020, with the market anticipated to be worth $110 billion in ten years' time, up from $26 billion today.

The organization forecast that the components will expand five-fold during the period in question, attracting investments worth $35 billion and employing an estimated 41 million skilled workers.

In addition, it suggested that around $80 billion of the total market will be within India, while $30 billion will come from exports.

Substantial growth in Indian automotive activity is also expected to push up the proportion of total gross domestic product for which it is responsible from 2.1 per cent in 2010 to 3.6 per cent in 2020.

ACMA represents around 592 companies in the components industry supplying a range of products both within India and overseas.

Posted by Sarah Dixon