Auto component sector sees record turnover of Rs 4.2 trn in FY22: ACMA

The auto component industry in India exported components worth Rs 1.41 trillion in 2021-22, it said, adding that auto parts worth Rs 1.36 trillion were imported in 2021-22

Indian auto components industry clocked its highest-ever turnover of Rs 4.2 trillion in 2021-22, registering a growth of 23 per cent on the back of strong performance in exports and aftermarket, industry body ACMA said on Monday.

Aftermarket denotes the market for auto components that are used to replace the original auto parts when they are not functioning properly.

At a virtual press conference, Automotive Component Manufacturers’ Association of India (ACMA) stated while auto parts’ imports rose 33 per cent in 2021-22, exports grew 43 per cent in the same period.

The auto component industry in India exported components worth