Auto part exports clock almost-flat FY17 growth

Imports decline after two growth years

Exports of auto components from India saw almost flat growth in the financial year 2016-17, growing just 0.8 per cent to $10.9 billion. 

The value of exports has stagnated in a small range of $10.8 billion to $11.2 billion for three consecutive years.

Data released by the Automotive Component Manufacturers Association (ACMA) show that exports grew 0.8 per cent in FY17 against a decline of 3.7 per cent in FY16. Vinnie Mehta, director-general at ACMA, said export demand for components had been under pressure due to the slowdown in several global markets. “It is significant that our shipments did not decline,” he