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New Delhi: India imported auto components worth $7,174.73 million during the financial year 2024-25 (FY25), of which $1,912.82 million came from China, the Parliament was informed on Tuesday. This means China accounted for 26.66 per cent of India’s total auto component imports, Minister of State for Commerce and Industry Jitin Prasada said in a written…
Auto Component Aftermarket: The auto component aftermarket grew by 5 per cent due to an increase in used vehicle parc and formalisation of the repair and maintenance market, according to the findings of the Automotive Component Manufacturers Association of India (ACMA). The aftermarket in the first half (H1) of the financial year (FY) 2024 stood…
Indian Auto Component Industry: The turnover of the automotive component industry rose by 9.8% year-on-year to Rs 6.14 lakh crore for the fiscal ended March 31, 2024, industry body ACMA said on Thursday. The industry had reported a turnover of Rs 5.59 lakh crore in the 2022-23 financial year. Component supply to OEMs (original equipment…
Auto Component Industry In India: The Red Sea crisis is likely to impact the margins of the auto component industry over the next few quarters amid higher container rates and shipping time, credit ratings agency ICRA said on Thursday, projecting a moderate growth for the industry this fiscal. Close to two-thirds of the auto component…