auto components industry is poised for a 10- 15 per cent growth in fiscal 2022,
following a 3 per cent slide in FY21 during peak Covid pandemic, according to Sunjay
Kapur, who was recently appointed as the President of the Auto Components
Manufacturing Association (ACMA). Speaking to The Hindu Business Line, Kapur said that though the industry is facing a lot
of challenges including chip shortage, logistics issues, container shortages
and rising fuel prices, demand is picking up.
passenger vehicle segment poised to continue its growth momentum at 8 per cent,
and commercial vehicles expected to see a 20 per cent volume bump, Kapur
predicts that the component makers will see a 10-15 per cent uptick by the end
of FY22. Growth has already commenced in the first half of this fiscal year, he
scheme announced in September will prime the industry to focus on future
technologies, he said. The key focus area for innovation will be
electrification as well as alternative fuels.
Sunjay Kapur, the
two-wheeler segment will be a major driver for localisation, domestic value
addition and exports as it gains momentum in India.
believes that the impact of the chip shortage is likely to continue into the
first quarter of FY23 next year. He added that in anticipation of the uptick in
demand expected in the commercial vehicles segment, component makers have been
investing in capacity expansion, which should tide them over the shortage
The Hindu Business Line
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