The Automotive Component Manufacturers Association of India (ACMA) reported a 9.8 per cent increase in the automotive component industry's turnover to Rs 6.14 lakh crore in the fiscal year ending March 31, 2024. Domestic supply to OEMs grew by 8.9 per cent, exports rose by 5.5 per cent, and a trade surplus is at $300 million. Despite challenges, the industry remains optimistic about steady growth in FY25, buoyed by favorable macro-economic conditions.
