by manav kapur there is a direct relationship between the economic growth of a country and the performance of its major industries including the automobile sector which is also responsible for the allied sectors especially auto component that is the most prominent among them the auto components industry of india is 20 times bigger employer than original equipment manufacturers oems and its share in the countrys annual gdp is almost 7 per cent these facts are enough to explain that how significant are the industries in the overall growth of the economy but changing industry dynamics are scaring the leaders of this industry auto component manufacturers are afraid of the governments aggressive plans for electric vehicles and it seems this transition is not in harmony with the future goals of the industry usually an internal combustion engine ice of most of the cars works on more than 2000 moving parts but the engine of an electric vehicle doesnt require more than 20 similar partscomponents familiar with the imminent shift many smes in the auto components industry are reluctant to invest in the electric vehicle expansion plans but is the change really devastating the 4490billion industry or is the fear offshoots of a poor vision hope versus fear no doubt an environment of fear is eclipsing the industry but it is equally true that the industry is all set to become the thirdlargest in the world by 2025 and globalization is considered auspicious rather than a menace despite this a few of the industry players believe that the newer technology is apartheid to an ageold industry which is still enjoying a growth momentum they assume that once electric vehicles start replacing petroldiesel based automobiles there will be a sudden fall in the demand of auto components such as cylinder blocks filters transmitters plugs etc also read nonavailability of sufficient charging infra hampering promotion of evs govt according to various industry experts the auto components industry is on the verge of losing glory but not its position because as the complete transformation is not possible before 2040 according to arvind kapur md ceo of rico auto i think it will take another 2025 years for electric vehicles to flourish in india during any disruption the industry has to face some inconvenience but that should not stop them from making investments although the breed of optimistic entrepreneur in the industry a bit concerned they are ready to come up with plans to exploit future opportunities as the recent report by automotive component manufacturers association of india acma informs that the indian auto components industry is quite close to a turnover of 100 billion by 2020 because of improved exports which is expected to reach almost 100 billion by 2026 nearly 10times higher than the current export value moreover due to rising numbers of oems the industry is expected to maintain 810 per cent growth in the current fiscal opportunities versus challenges destiny favours the brave and it is a blunt fact that