Auto parts sector grew 11.3% to ₹3.3L cr in H1, China biggest source of import

THE turnover of India's automotive component industry reached ₹3.32 lakh crore ($39.6 billion) during April to September 2024 (H1FY25), reflecting an 11.3% growth compared to the same period last year, according to the Automotive Component Manufacturers Association of India (ACMA).

- ARSHAD KHAN @ New Delhi

Exports of auto components increased by 7% to $11.1 billion (₹93,340 crore), while imports rose by 4% to $11 billion (₹92,050 crore), resulting in a trade surplus of $150 million.

China, despite strained relations with India in recent years, continued to dominate as the largest source of imports, accounting for 28% of India's total auto component imports.