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Auto components surge…

Auto components surge…

Arvind Balaji, President of the Automobile Component Manufacturer’s Association (ACMA) is happy over the record performance of the auto components sector. The total value of auto components produced during last year has been estimated at Rs 2.55 lakh crore. The industry has earned an export income of Rs 70,900 crore. A large number of auto component manufacturers have been enjoying a boom in exports aided by the steep depreciation in the value of the rupee against the dollar. Many of these have also invested handsome amounts on expanding capacity and also going for sophisticated manufacturing facilities to cater to markets in the US, Europe and elsewhere.

However, a matter for concern is the continuous large imports of auto components estimated at Rs 90,600 crore during last year, in spite of the big progress claimed by the sector. The Department

of Industrial Policy and Promotion should look at closely into bridging this gap by providing facilities for creating capacities in areas to meet local demand.

 

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