Auto component industry to report 20-23% revenue growth in 2021-22
The growth would come in on a low base of the last two fiscals and will look optically strong because of the exceptionally weak first half of 2020-21
Representational image.
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New Delhi
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Published 02.08.21, 01:21 AM
The auto component industry is expected to report a 20-23 per cent revenue growth in 2021-22, supported by strong export demand and a recovery in the domestic original equipment and aftermarket segments, rating agency Icra has said.
The growth would come in on a low base of the last two fiscals and will look strong because of the exceptionally weak first half of 2020-21.
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However, chip shortages, slow vaccination roll-out in some regions, logistics challenges and further lockdowns/curfews, if any, could be demand dampeners.
Commodity prices are also expected to remain at multi-year highs in the first half of the current fiscal , before softening in the second half of the financial year.
