Indian auto component industry's revenue to drop 10–12% y/y in FY 2021, says ACMA
Industry body cites COVID-19–related disruptions as the main reason behind the current slowdown
The Automotive Component Manufacturers Association of India (ACMA) forecasts that the auto component industry’s FY 2020–21 revenue would decline 10–12% year on year on account of COVID-19 led disruptions. The lobby body, however, is expected to release annual results on the industry’s performance during the last fiscal quarter later this year.
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