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ACMA, Auto News, ET Auto

The auto ingredient sector is an export-aggressive sector, it exports far more than 25% of its production, with the US and EU accounting for sixty%.

New Delhi: The functionality of the Indian auto ingredient sector in fiscal 2020-21 would be a tiny better than that of the motor vehicle producing sector as its decrease in growth is believed to be in the variety of ten%-12%, Deepak Jain, President, Auto Ingredient Companies Affiliation (ACMA), the apex system representing auto parts makers, instructed ETAuto.

“We have not but prepared the precise figures but we be expecting that the auto parts sector has carried out better than the motor vehicle sector and it has degrown a lot less than the motor vehicle sector in FY21,” Jain stated. The general automobile profits degrew by fourteen% in the same period of time.

Even right before Covid struck, the auto sector was dealing with a downtrend.

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