Car parts exports exceed imports The sector saw a contraction of 34% in the first half of financial year with a turnover of Rs 1.19 lakh crore
The industry for car parts suffered a contraction in the first half of the fiscal even as exports outstripped imports for the first time though both reported a falling turnover.
The industry witnessed a contraction of 34 per cent in the first half of the current financial year with a turnover of Rs 1.19 lakh crore compared with Rs 1.82 lakh crore in the corresponding period a year ago.
This was revealed in the industry performance review conducted by the Automotive Component Manufacturers Association of India (Acma), the apex body of the industry.