Indian Auto Components Sector Registers Revenue Decline Of 34 Per Cent In H1 2020-21

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Automotive Component Manufacturers Association of India (ACMA) has announced the findings of the component industry performance review for the first half of fiscal 2020-21. The overall turnover of the automotive component industry stood at ₹ 1.19 lakh crore for the period April 2020 to September 2020 which is a registering a decline of 34 per cent over the first half of the previous year. Exports in the auto component sector in the same period declined by 23.6 per cent at ₹ 39,003 crore as compared to ₹ 51,028 crore in the first half of 2019-20. Europe accounting for 31 per cent of exports, saw a decline of 28 percent, while North America and Asia, accounting for 30 per cent and 29 per cent respectively also registered decline of 28 and 30 per cent respectively.

Automotive Component Manufacturers Association of India (ACMA) has announced the findings of the component industry performance review for the first half of fiscal 2020-21. The overall turnover of the automotive component industry stood at ₹ 1.19 lakh crore for the period April 2020 to September 2020 which is a registering a decline of 34 per cent over the first half of the previous year. Exports in the auto component sector in the same period declined by 23.6 per cent at ₹ 39,003 crore as compared to ₹ 51,028 crore in the first half of 2019-20. Europe accounting for 31 per cent of exports, saw a decline of 28 percent, while North America and Asia, accounting for 30 per cent and 29 per cent respectively also registered decline of 28 and 30 per cent respectively.