ACMA pegs auto components exports at $80 bn by 2026
Sreenivasa Rao Dasari Setting a seven-fold rise in auto component exports for the next decade, Automobile Component Manufacturers Association (ACMA) has advised the industry to focus on quality and innovation. ACMA forecasts $70-billion exports by 2026 from the $10.8-billion level in 2015-16 financial year. According to Automotive Mission Plan 2016-26 (AMP), the Indian auto component industry aims to achieve $200 billion in revenues by 2026 including exports of $70-80 billion. India recorded auto component exports to Rs70,996 crore in 2015-16, which grew 3.5% from Rs 68,500 crore ($11.2 billion) in 2014-15. ACMA President Rattan Kapur has estimated that the auto component industry requires investments to the tune of $30-billion to achieve the target under AMP. Speaking to The Dollar Business, Kapur said, ...
Auto component industry pins its hopes on GST
Vanita Peter D’souza | The Dollar Business While all the hush bush of NDA government’s ‘Make in India’ and Union Budget is almost coming to an end, the automobile sector looks still puzzled. On one side where petrol has become expensive post budget, automobile sector is still waiting for Finance Ministry decision on restoration of lower excise duty. Expensive petrol and higher excise duty is likely to hit the industry. The domestic automobile component industry is now eyeing on the implementation of GST which would give some relief to the automobile sector. “Now, only GST can help us. Government should implement it as soon as they can,” said a Rajkot based auto component manufacturer. Vinnie Mehta, Director General, Automotive ...
