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India’s auto components industry witnessed a 34.8 per cent growth to Rs 2.65 lakh crore in first-half of 2022-23, riding on domestic demand, particularly from the passenger vehicles segment, the Automotive Component Manufacturers Association of India said on Wednesday. During the period, exports of components grew by 8.6 per cent to USD 10.1 billion (Rs […]
The auto component industry expects to maintain double-digit sales growth in the current fiscal after having reported its highest-ever turnover in FY22, with demand expected to remain robust. As per the Automotive Component Manufacturers Association (ACMA), the sector reported a turnover of Rs 4.2 lakh crore last fiscal, a growth of 23 per cent over […]
Force Motors on Friday said it has tied up with the Automotive Skills Development Council (ASDC) to recruit and to enhance skill set of the workforce at its dealerships. A service agreement in this regard was inked between the two entities on Friday, the Pune-based company said in a statement. “Through this strategic service agreement, […]
The approval granted by the government to 75 auto component manufacturers for incentives under the PLI scheme will act as a catalyst in the transformational journey from a conventional industry to a mobility industry, industry body ACMA said on Tuesday. Out of a total of 92 auto component manufacturers that applied, 75 have been approved […]
Presenting Union Budget 2022, Finance Minister Nirmala Sitharaman in her speech has announced some key measures to boost the Indian automotive industry. Announcing a new battery swap policy to encourage electric vehicle adoption is the most appreciative step along with opening up defence R&D to private players for auto component development. MSP payment of ₹2.73 […]