Minda Corporation is targeting more than doubling its exports to ₹1,500 crore over the next four years, compared with around ₹600 crore currently, as the auto-component manufacturer expands its presence in electric vehicles (EVs), automotive electronics and higher-value components.
EVs and Electronics to Drive Global Expansion
Exports currently account for around 8–9% of Minda Corporation’s revenue, with the company looking to strengthen its international business through product diversification, localisation and increased manufacturing capacity.
Key growth areas include:
- EV components and high-voltage connections
- Automotive electronics and instrument clusters
- Wiring harnesses
- Smart-key systems
- Wireless chargers
- Body control modules
The company is also increasing its focus on the four-wheeler segment. Two- and three-wheelers currently contribute around 42–43% of revenue, while four-wheelers account for approximately 20%.
EV Business Gains Momentum
EV-related products contributed nearly 14% of group revenue in Q1, highlighting the growing importance of electrification to Minda’s portfolio. Associate company Flash Electronics generates around 30% of its revenue from EV-related products.
Minda is also expanding its capabilities through greenfield and brownfield facilities covering vehicle access, wiring harnesses, instrument clusters, EV components, die-casting and electronics.
Building a Global Auto-Component Footprint
The company is simultaneously pursuing deeper localisation and backward integration to improve competitiveness and support international growth.
Minda’s export ambitions reflect the broader transformation of India’s auto-component industry, with suppliers increasingly moving towards EV systems, electronics and technology-intensive products. As global automakers diversify their supply chains, Indian component manufacturers could play a larger role in the international EV ecosystem.
