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Auto part makers shift to top gear as industry's growth accelerates

After being stalled by the economic slowdown and the pandemic, growth is accelerating rapidly for the industry

Topics
Auto part makers | Auto component makers | automobile industry

T E Narasimhan  |  Chennai 

auto component makers, automobile, manufacturing, jobs, workers, company, cars, engineering
ICRA expects the industry's revenue to grow 16-18 per cent in 2021-22 supported by factors such as increasing localisation and, of course, the low base effect

The revival in has been transmitted to the component industry. Manufacturers are reporting an 18-20 per cent growth in revenues and a 50 per cent jump in profit for the third quarter of FY21.

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First Published: Thu, February 18 2021. 06:10 IST