Indian Auto Parts Eye New Markets Over US Tariff Worries: Report

The auto component industry in the country is facing export challenges due to the ongoing overhang of tariffs by the USA.

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In addition, currency depreciation has led to demand weakness in a few Middle Eastern countries and a major slowdown in the European region, says a report by DAM Capital Advisors.

However, the report also noted that Indian companies which have lower exposure to these countries are planning to mitigate the impact by adding new clients from various other geographies.

It said "there is a high level of demand uncertainty on exports front due to ongoing overhang of tariff by USA, currency depreciation led demand weakness in few middle-east countries and major slowdown in the European region".