Indian auto component industry clocks de-growth
As per the industry performance
review for the first half (H1) of fiscal
2020-21 announced by the Automotive
Component Manufacturers Association
of India (ACMA), the turnover of the
automotive component industry stood
at Rs 1.19 trillion for April-September
2020, registering a de-growth of 34 per
cent over the same period last year.
Exports of auto components declined by 23.6 per cent to Rs 390.03 billion in H1 2019-20 from Rs 510.28 billion in H1 2019-20. Europe accounting for 31 per cent of exports saw a decline of 28 per cent, while North America and Asia, accounting for 30 per cent and 29 per cent respectively also registered decline of 28 and 30 per cent respectively.
The key export items included drive transmission and steering, engine components, body/chassis, suspension and braking, among others.
Imports of auto components decreased by 32.7 per cent to Rs 377.10 billion in H1 2020-21 from Rs 560.66 billion in H1 2019-20.
A-303, Navbharat
Estates,
Zakaria Bunder Road,
Sewri (West), Mumbai - 400 015,
Maharashtra, India
+91-22-24193000
Subscriber@ASAPPinfoGlobal.com