The Automotive Component Manufacturers Association of India (ACMA), representing the Indian auto component manufacturing industry, recently published its ‘Industry Performance Review’ for the fiscal year 2023-24. The findings underscore a notable year of growth for the sector, with a turnover of Rs. 6.14 lakh crore (USD 74.1 billion), marking a 9.8 per cent increase over the previous year. This growth is particularly significant as it demonstrates the resilience and dynamism of the auto component industry amidst a challenging global economic environment. With this context, Vinnie Mehta, Director General, ACMA shared his perspective. He stated, “On the back of steady vehicles’ production in the country, a robust aftermarket and growth in exports, the auto component industry outpaced the turnover of Rs. 5.59 lakh crore in the previous fiscal.”
He further informed that the component supply to OEMs in the domestic market grew by 8.9 per cent to Rs. 5.18 lakh crore, with supply to the EV manufacturing industry accounting for six per cent of the total component turnover in the country. Exports grew by 5.5 per cent to USD 21.2 billion while imports grew by three per cent to USD 20.9 billion, thus resulting in a trade surplus of USD 300 million. The aftermarket, estimated at Rs. 93,886 crore also witnessed a growth of 10 per cent.
Diese Geschichte stammt aus der August 2024-Ausgabe von Auto Components India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August 2024-Ausgabe von Auto Components India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
UN ADVANCES ELECTRIC VEHICLE BRAKING
The United Nations has adopted new regulations to combat pedal misapplication and introduce advanced braking systems for electric vehicles as per the Brake Report.
EV AUTOTECH INNOVATION FORUM 2024
The EV & AutoTech Innovation Forum 2024 focused on advancements in EV technology, including AI innovations, connectivity, and the evolving landscape, writes Richa Tyagi.
RESILIENT GROWTH AMIDST GLOBAL CHALLENGES
The ACMA Industry performance review paints a picture of resilience amidst a challenging global economic environment, writes Ashish Bhatia.
2024 BUDGET'S AUTOMOTIVE IMPACT
The full Union Budget 2024 introduced several changes with significant implications for the automotive ecosystem. As sentiments were a mixed bag, Ashish Bhatia looks at the positive aspects and areas that could have been addressed.
OVERCOMING FRAGMENTED EV CHARGING INFRASTRUCTURE
The EV charging infrastructure is fragmented and needs some doing. There is hope, writes Upendra Kasbekar.
BRIDGING THE EV-SKILLED WORKFORCE GAP
India’s fast-growing EV sector needs to bridge skill set gaps to realise its 2030 goal, writes Richa Tyagi.
THE BUSINESS CASE
In an exclusive Upfront session, Prof. Dr Peter Laier, a Member of the Board of Management, and a key figure in ZF's commercial vehicle segment shared insights with Ashish Bhatia on the business case at the tier 1 technology solutions provider.
HYBRID DRIVES EVIDENTLY ON THE RISE
At the ZF Global Technology Day 2024, the technology solutions provider emphasised the evident rise of hybrids as it showcased a marketready suite of solutions, writes Ashish Bhatia.
REGENERATIVE BRAKING CHARACTERISATION - PART 4
This is the final article in a four-part series on regenerative braking characterisation by Marco Victorero, Test Engineer, Braking Systems in Applus IDIADA.
BUSWORLD SOUTHEAST ASIA 2024: UNVEILING BUS INNOVATIONS
Busworld Southeast Asia 2024 showcased Indonesia’s bus industry advancements. Ashish Bhatia, with inputs from Ellora Dasgupta, captures the essence.