Auto components industrys turnover grows by 8.8%
The Dollar Business Bureau With the automotive industry on the trajectory of growth in financial year 2015-2016, registering a growth of 7.24%, the auto components industry also witnessed an increase in turnover by 8.8% to Rs. 2.55 lakh crore. With the continuing recovery and hopes on monsoon, the turnover is likely to climb to 10-12%, said Arvind Balaji, President of Automotive Component Manufacturers Association of India an apex body which represents the interests of the Indian Auto Component Industry. In fiscal year 2015-2016 the components industry grew by 8-9% and the target for the ongoing fiscal year is to achieve growth of 10-12%, he said. Reiterating the importance of monsoons, he said, that the first two months of the ongoing fiscal 2016-2017 have been ...
