India's growth rate of parts and components companies will “decline” in 2011

According to foreign media, the Indian Association of Automotive Parts Manufacturers (ACMA) expects that the growth rate of parts and components companies in India in 2011-12 will fall to 12-15%.

ACMA**SriVatsRam said that the growth rate in FY2010-11 was as high as 34% to US$39.9 billion, and India’s auto consumption slowed down in the first quarter of the fiscal year, which seems to imply growth rates for the entire parts and components industry in the current fiscal year. It will decline.

Ram predicts that auto parts companies will invest approximately US$3 billion in new fiscal year and expansion projects to increase production capacity this fiscal year.