NEW DELHI : Cumulative revenue of automotive component manufacturing sector has declined by 3% to ₹3.40 trillion in FY21 as result of the sharp decline in production and sales in the first half of the fiscal due to stringent nationwide lockdowns announced to contain the covid-19 pandemic, according to data released by Automotive Component Manufacturers Association (ACMA) on Tuesday.
The decline, though, was in low single digit due to recovery in production in the second half of the year for both domestic and export markets.
The sector reported a cumulative topline of ₹3.49 trillion in FY20, which was decline of 11.7% from ₹3.95 trillion in FY19. As economic activity gained momentum after the first lockdown, passenger vehicle and