New Delhi: Led by a low base (due to the impact of Covid) and the resurrection in consumer demand, the automatic component industry held a 65 percent income growth in this fiscal first half at Rs 1.96 Lakh Crore (against Rs 1.19 Lakh Crore).
However, raise higher input costs and semiconductor deficiencies as worries in the near future.
Industrial growth was also assisted by a 76 percent leap in exports, mostly to the US market, where total revenue in the April-September 2021 period reached Rs 68,746 Crore against Rs 39.003 Crore in the past year the point.
And in what it shows credible recovery, the first industrial change of this fiscal is higher than the output achieved even in the same 2020 financial periods, years that are not affected by pandemics.
“Although offtake slow in vehicle sales due to supply side problems, especially in the first quarter, the car component industry shows an extraordinary change in the first half of the financial year 2022.
We see significant growth in all segments – supply to the company, export, and aftermarket, “Vinnie Mehta, Director General of the Association of Automotive Component Manufacturers (ACMA), said.
The lack of semiconductors remains a major concern for the industry, because this problem has resulted in a massive waiting period in the category of passenger vehicles with delayed delivery backlogs estimated at seven lakh units.
Sembelay lime, President Acma, said this industry was optimistic carefully.
“Despite the resurrection of vehicle demand, the supply side problem of semiconductor availability, increasing input costs, the increasing cost of logistics and the availability of containers, among other things, continues to inhibit recovery in the automotive sector.” ACMA estimates the loss of business to industry because of the lack of semiconductors around RS 1,000 Crore so far.
However, Acma officials said business prospects tended to be better despite challenging the supply side.
“There are indications that vehicle demand, in the coming months, will increase,” Lime said.
Automatic parts business grows 65% to RS 2L Crore in H1
