Auto Component Industry to Rebound in 2021 | Interview: Mr. Vinnie Mehta, Director General, ACMA, with Subhajit Roy
The Automotive Component Manufacturers Association of India or ACMA is the apex body representing the interest of the Indian auto component industry. Its membership of over 800 manufacturers contributes more than 85% of the auto component industry’s turnover in the organised sector. In an exclusive interview with Subhajit Roy, Mr. Vinnie Mehta, Director General of ACMA gives an overview about the performance of the industry. He said, “Next fiscal year is being projected as the year of recovery or the year of rebound.”
Highlights:
• Auto component industry alone contributes around 2.5% to India’s GDP
• Auto component industry creates about 50 lakh jobs
• In March 2020, turnover of auto component industry stood at USD 50 Bn
• Turnover of auto component industry has reached the pre-COVID levels
• Tractor industry performance is more than 100% thanks to good monsoon
• Demand for well-defined roadmap on technology on policy
• Industry should be taken on board completely to promote localization
• Exports stood at around USD 14.5 Bn during last fiscal
• PLI scheme to help break into global supply chains
• Out of Rs 1.45 lakh Cr outlay under PLI scheme, over 40% allotted for auto component
• Demand for uniform GST rate on all auto components
• Need incentives for creating demand in automotive sector
• Announce (vehicle) scrappage policy
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