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India’s auto component industry saw the cumulative revenue decline 3 per cent to Rs340 lakh crore in the year that ended in March 2021, industry body ACMA (Auto Component Manufacturers Association) said at a press briefing on Tuesday.
The nationwide lock-down in wake of the pandemic put the entire supply chain in disarray, said Deepak Jain, president, ACMA. “The entire industry took a significant time to stabilise again post the gradual unlocking of the economy,” said Jain.
While vehicle sales and production improved quarter-on-quarter from second quarter of FY20-21 onwards, however the first quarter of FY 21-22 was once again confronted with
