The deterrent downturn in the Indian Automotive Industry has taken an adverse hit on the businesses of auto component manufacturers. Automotive Component Manufacturers Association (ACMA) of India, the apex body that represents the component suppliers posted a de-growth of 10.1 per cent in the revenue generated in the first half of FY2020 at ₹ 1.79 lakh crore as compared to ₹ 1.99 lakh crore a year ago. Revenue from the OEM side during the same period went down by 15.2 per cent at ₹ 1.50 lakh crore as compared to ₹ 1.77 lakh crore in the same period last year. That said, the aftermarket industry has shown some silver lining posting a growth of 4 per cent at ₹ 35,096 crore between April 2019 and September 2019 as compared to ₹ 33,746 crore in the same period a year ago. Also Read: GST Council Meeting: No Reduction In GST For The Auto Industry The revenue generated from the OEM business has the highest contribution in the overall turnover of component makers and the prolonged slowdown in the industry has taken a toll on the business. ACMA had earlier projected over 100,000 job losses in the industry by August 2019 which… Read full this story
- Rims Vancouver
- Taking Care of Your Brake Rotors
- India’s workers suffer as motor industry goes into reverse
- The impact of global changes on India BPO industry - Kazim for nasscom newsline june 09
Auto Suppliers Feel The Heat Of The Slowdown In H1 FY2020 have 215 words, post on auto.ndtv.com at December 6, 2019. This is cached page on IT Breaking News. If you want remove this page, please contact us.