The 59th ACMA Annual Session had stakeholders of the auto components industry deliberate on ways to embrace the discontinuity in growth. Held on September 06, 2019, it gave a sense of how the market sentiments had nosedived from just a year ago. After a phenomenal run in the previous financial year (FY2019) when the industry registered strong growth, the auto component industry finds itself jostling for growth.
The undercurrents were reflective of the sentiments experienced when the Original Equipment Manufacturers (OEMs) took the stage a day prior, at the 59th SIAM Annual Convention, held at the same venue, in New Delhi. There was a unanimous consensus among those gathered, on July 2019 and August 2019 particularly being the worst performing months for the industry. A few admitted to registering zero growth owing to the slumber in the economy, and that there was a need to find ways of embracing the discontinuity and strive to get back to growing ways.
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