However, the industry’s net foreign exchange was positive for the first time ever with companies exporting more ($ 5.2 billion) than importing ($ 5 billion) during the first half of 2020-21.

According to Automotive Component Manufacturers Association of India (ACMA), believes that such a move will be detrimental for attracting future investments in Haryana

Niti Aayog CEO added that there is need for new synergies such as with IT industry in the areas of power electronics. India must look at using the first mover advantage for producing all components for electric vehicles, thus driving towards the path of being a future global leader.

These scooters enable 90 per cent savings as against conventional scooters. Also, electric scooters are zero-noise vehicles, promoting quiet drives.

In this interview with Rakesh Rao, Anurag Garg, MD & Country Head (India), Vitesco Technologies - formerly the Powertrain Division of Continental - discusses how auto component industry is coping with COVID pandemic and the growth plans of the company.

In this partnership, Hyundai will offer its customers customised car financing solutions from HDFC Bank directly on the ‘Click to Buy’ online car buying platform.

Reduction in the GST rates from 28 to 18 per cent for a limited period and an incentive-based vehicle scrappage policy would have made a less painful revival.

The company has taken all the necessary measures to support the government.

With host of new technology and innovation in the automotive manufacturing and the auto component space has led to emergence of sustainable mobility options like electric vehicles (EVs), while it is showing benefits of IoT-based platform in controlling emissions and energy.