Indian auto component industry’s turnover in FY 2019/20 declines 11.7% y/y to USD49.2 billion
ACMA expects the auto component industry’s performance to return to pre-COVID-19 level by the festive season
The turnover of the Indian auto component industry declined 11.7% year-over-year (y/y) to INR3.49 trillion (USD49.2 billion) in financial year ended 31 March 2020, according to a press release by the Automotive Components Manufacturers Association of India (ACMA) on 19 August. According to the association, which has more than 800 auto parts suppliers as members, the turnover data represents the entire supplies form the auto component industry to vehicle manufacturers (both on-road and off-road) and the aftermarket in India, as well as exports. It also include component supplies captives to the OEMs by the unorganized and small players.