Indian auto component industry grows 35% y/y in H1 FY 2023, reports ACMA

Financial results

According to Sunjay Kapur, president, ACMA, growth was registered on the back of vehicle sales recovering the pre-pandemic levels and moderation in the supply-side issues

The Indian auto component manufacturing industry’s turnover in the first half of fiscal 2022–23 stood at USD33.8 billion, registering a growth of 34.8% y/y over the first half of FY 2022, Automotive Component Manufacturers Association of India (ACMA) reported on 21 December 2022 while disclosing its findings of the industry performance review.

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