In the last financial year, the auto component industry reported a turnover of 49.2 billion dollar registering a decline of 11.7 per cent over the previous fiscal . According to figures released by the Automotive Component Manufacturers Association of India parts exports declined to $14.5 billion in FY20, from $15.2 billion in FY19. Meanwhile, the automotive aftermarket recorded a turnover of $9.8 billion, marginally lower from $10.1 billion in FY19.

As per ACMA President Mr. Deepak Jain, Subdued vehicle demand, investments made for transition from BS 4 to BS 6, liquidity crunch, lack of clarity on policy for electrification of vehicles and slow-down in key export markets, among others, had an adverse impact on the performance of the components sector in India and also on its expansion plans.

At a webinar hosted by ACMA on performance of auto component industry, ETAuto asked key questions on the impact of sporadic lockdown on the operations of auto component makers and status of fresh investments within the sector. Let’s now hear the response of ACMA President Mr. Deepak Jain :