Page 14 - MMI - JanFeb 2021 single

INSIGHT

EQUIPPED FOR GROWTH

Automotive Component Manufacturers Association of India (ACMA), the
apex body representing India’s Auto Component manufacturing industry, has

announced the findings of its Industry Performance Review for the first half of
fiscal 2021-22. Highlights…

Source: Magic Wand Media

T he turnover of the cant growth in all segments Component industry, Sunjay
as
Compo-
Automotive
Kapur,
President,
supply to OEMs,
said,
ACMA,
exports
–
nent industry stood also the Aftermarket, the Com- “Despite a resurgence of the
at `1.96 lakh crore (US$ 26.6 ponent industry grew to `1.96 demand for vehicles, sup-
billion) for the period April lakh crore (US$ 26.6 billion), ply-side issues of the avail-
2021 to September 2021, regis- registering 65 percent growth. ability of semiconductors,
tering a growth of 65 per- Exports grew by 76 percent increasing input costs, rising lo-
cent over the first half of the to `68.7 lakh crore (US$ 9.3 gistics costs, and the availabili-
previous year. billion), while imports grew ty of containers, among others,
Commenting on the perfor- by 71 percent to `64.3 lakh continue to hamper recov-
mance of the Auto Compo- crore (US$ 8.7 billion), leading ery in the Automotive sector.
nent industry in India, Vinnie to trade surplus of US$ 600 The Auto Component industry,
Mehta, Director General, million. The Aftermarket, es- in this backdrop, displayed re-
ACMA, said, “Despite the slow timated at `38,895 crore, also markable resilience. Increased
offtake in vehicles sales due witnessed a steady growth value-addition to meet regula-
to supply-side issues, espe- of 25 percent. Component tory compliance, fast recovery
cially in the first quarter, the sales to OEMs in the domestic in external markets, and trac-
Auto Component industry market grew by 76 percent to tion in the domestic aftermar-
demonstrated a remarkable `1.53 lakh crore.” ket market have contributed
turn-around in the first half Sharing his insights on the to the growth of the sector in
Source: ACMA of FY 2021-22. With signifi- performance of the Auto the first half of FY 2021-22.

14 | January-February 2022 Modern Manufacturing India