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Auto parts sector grew 11.3% to ₹3.3L cr in H1, China biggest source of import
The New Indian Express Vishakapatnam
|December 13, 2024
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).
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.
This story is from the December 13, 2024 edition of The New Indian Express Vishakapatnam.
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