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98 98  
99 99  == Indian Automobile Industry ==
100 100  
101 -ndia’s automobile industry is the world’s fourth largest automobile market in terms of sales and production and is a top employment generator in the country. In the past few years, growth in the industry has been supported by robust economic activity and large-scale infrastructure development, a growing middle class population with increasing income and availability of financing options. The sector has benefitted from factors such as the availability of low-cost skilled labour, research & development support and a strong manufacturing supply chain. Being an attractive sector for investment, the industry has been a recipient of USD 23.89 billion FDI (between April 2000 and December 2019), amounting to 5% of India’s total FDI flows till date. The automotive industry, including automobile and component manufacturing, is projected to reach a market size of ` 16-18 trillion (USD 251-282 billion) by 2026.
101 +India’s automobile industry is the world’s fourth largest automobile market in terms of sales and production and is a top employment generator in the country. In the past few years, growth in the industry has been supported by robust economic activity and large-scale infrastructure development, a growing middle class population with increasing income and availability of financing options. The sector has benefitted from factors such as the availability of low-cost skilled labour, research & development support and a strong manufacturing supply chain. Being an attractive sector for investment, the industry has been a recipient of USD 23.89 billion FDI (between April 2000 and December 2019), amounting to 5% of India’s total FDI flows till date. The automotive industry, including automobile and component manufacturing, is projected to reach a market size of ` 16-18 trillion (USD 251-282 billion) by 2026.
102 102  
103 103  === Industry Performance ===
104 104  
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128 128  
129 129  The auto component industry has core capabilities to manufacture a variety of components. India manufactures several key auto components for customers in the US, EU and China. Furthermore, the gap between international and national regulations on safety and emissions has narrowed down considerably, bolstered recently by the enforcement of BS-VI emission norms from April, 2020. Asia, Europe and North America continue to be the key export destinations for Indian auto components.
130 130  
131 -
132 132  = Business Overview =
133 133  
134 134  Endurance Technologies Limited (ETL) is a leading automotive component manufacturer and the largest aluminium die casting manufacturer in India in terms of total output and capacity (as per the data from the Aluminium Casters’ Association of India).
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203 203  
204 204  The Aftermarket business expanded 10% during the year to ` 2,977 million, from ` 2,707 million in FY 2018-19. The Aftermarket segment offers products in its core segments – Suspension, Braking Systems and Transmission. It contributes 6.00% to ETL’s total India business, and 10.00% to the total business of proprietary products. The Company has expanded its network to 335 distributors/dealers in India, and 40 distributors/dealers in 28 countries globally. It is a leading exporter among 2-wheeler and 3-wheeler component manufacturers in India. It has also been expanding its Aftermarket solutions and augmenting its revenue stream by including a wide range of Value Added Products (VAP) manufactured by third parties.
205 205  
206 -I n the year ahead, the Company is continuing its strategic channel expansion drive towards Tier 2 & 3 cities and the rural markets in India. In the overseas market, it is strengthening its distribution strategy to expand to new countries in Latin America, South East Asia and Africa, and also distributors in all the existing territories. As a major strategic step towards private branding, the Company plans to export components for international brands of 2-wheelers that are popular in those countries.
205 +In the year ahead, the Company is continuing its strategic channel expansion drive towards Tier 2 & 3 cities and the rural markets in India. In the overseas market, it is strengthening its distribution strategy to expand to new countries in Latin America, South East Asia and Africa, and also distributors in all the existing territories. As a major strategic step towards private branding, the Company plans to export components for international brands of 2-wheelers that are popular in those countries.
207 207  
208 -
209 209  = Recent developments =
210 210  
211 211  **Endurance Technologies Ltd results for quarter ended 30 th September, 2020 **{{footnote}}https://endurancegroup.com/media/pdf/20201110ou-b0d0500e81d8e88.pdf{{/footnote}}
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