Hi Anand,
while using joints to make such connections has been discussed elsewhere - and is a decent solution - this was regarding two 2D elements within Sketch mode. I think you overlooked this, since you are suggesting "converting bodies to components".
I think there's very much room for confusion in Fusion 360, currently, because many of the basic concepts are not clearly defined (or so it seems to me as an incoming user):
- it seems I'm actually able to attach joints to 2D sketch elements. Why would I want to do this (= is there a use case)?
- I can 'move' (right click menu) when 1..n 2D sketch elements are selected, but it doesn't do what I want (= move the selected elements). Instead, it selects the whole sketch and starts moving it in 3D.
There may be more of similar cases (i.e. the menu thing I posted earlier today in IdeaStation). It shows that Sketch just "is there" but its role as a supporting actor to the Sculpt and Model workflows is not clear. It tries to get center stage, which imho it shouldn't.
How does this sound to you others, especially Autodesk UI designers? Please help me see the consistency here, or fix the product to be more consistent. Sometimes, *restricting* the user is just fine. I think we should be somewhat restricted when using a Sketch tool.

Moving in Sketch mode. Notice the three axes. Before right-clicking 'move' only the rectangular area was selected.
Asko Kauppi
IT guy into Cleantech.