News Feb 23, 2022 Tesla should buy $ 500 mn Indian auto parts for tax cut Tesla CEO Elon Musk has previously urged the Government of India to bring the taxes down. The Government is now asking Tesla to source auto components worth at least $500 million from India.
News Jan 28, 2022 India’s auto component industries may grow by 15-17%: Brikwork Ratings The domestic auto components industry may see a revenue growth of 15-17 % this fiscal and 10-12% in the next financial year on the back of recovery in automobile sales, according to a report.
News Jan 19, 2022 ICRA comes out with revised downward growth forecast for auto industry Rating agency Icra revised downwards the revenue growth forecast for the auto components industry in the current fiscal to 15-17 percent.
News Jan 14, 2022 ACMA recommends uniform 18% GST on all auto components A moderate rate of 18 per cent will not only address this challenge but will also enhance the tax base through better compliance, says Sunjay Kapur, President, Automotive Component Manufacturers Association (ACMA).
News Jan 13, 2022 Taiwanese machine tool maker expects good growth due to EV boom The machine tool industry has a historic chance of growth due to the shift to electric vehicles and demand for localised manufacturing, as per the head of the biggest Taiwanese machine tool company.
News Dec 27, 2021 Indian auto component industry grows in first half of 2021-22 Automotive Component Manufacturers Association of India (ACMA), the apex body representing India’s Auto Component manufacturing industry announced a growth of 65 per cent over the first half of the previous year.
News Dec 09, 2021 India may save Rs 20 trillion by transition to EV Dr Mahendra Nath Pandey, Union Heavy Industries Minister, mentioned that India’s transition to Electric Mobility System can save Rs 20 trillion by 2030 on avoided oil imports alone.
News Dec 02, 2021 Govt of India to promote electric vehicles The Ministry of Heavy Industries (MHI) is organizing a Round Table to Promote Electric Vehicles on December 4, 2021 at Goa.
News Nov 23, 2021 India’s auto parts industry expects 22% growth in FY22 The 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.