Auto Component Industry

Auto Component Industry News

Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings
Business

Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings

The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in operations due to coronavirus pandemic and the subsequent lockdown, according to a report

Slowdown in auto industry impacts component sector too; 15% job loss after turnover growth dips
Business

Slowdown in auto industry impacts component sector too; 15% job loss after turnover growth dips

The industry body, which represents the auto components industry that alone employs around 50 lakh people, also sought clarity on policy for electrification of vehicles.

Auto component industry fears loss of 10 lakh jobs due to prolonged slowdown; seeks reduction in GST rate
Business

Auto component industry fears loss of 10 lakh jobs due to prolonged slowdown; seeks reduction in GST rate

Auto Component Manufacturers Association of India (ACMA) on Wednesday sought a reduction in GST rate to a uniform level of 18 percent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to the prolonged slowdown in vehicle sales

Union Budget 2019: ACMA pitches for uniform GST rate of 18% on all auto components as part of measures to support sector
Business

Union Budget 2019: ACMA pitches for uniform GST rate of 18% on all auto components as part of measures to support sector

Automotive component industry body ACMA on Thursday asked the government to ensure a uniform GST rate of 18 percent on all auto components as part of measures to support the sector that is going through a downturn

Auto components industry seeks uniform 18% GST on all products, says low taxation will lead to better compliance
Business

Auto components industry seeks uniform 18% GST on all products, says low taxation will lead to better compliance

Currently, 60 percent of the auto components attract 18 percent GST rate, while the rest 40 percent, the majority of which are two-wheelers, and tractor components attract 28 percent

Auto component industry to grow at 10-12% CAGR in long term, says Icra report
Business

Auto component industry to grow at 10-12% CAGR in long term, says Icra report

The auto component industry is likely to grow at 10-12 percent annually in the long term on rising rural income, higher disposable income and continued infrastructure activity, according to a Icra report

IT To Drive Growth Of Auto Component Industry
Biztech

IT To Drive Growth Of Auto Component Industry

The report aims to understand the IT adoption challenges faced by manufacturing industry firms.