IMPORTS OF CHINESE auto components, which used to be quite high till a few years ago, are now seeing their growth rate plateauing. The share of Chinese manufacturers in the domestic auto component industry stood at 28% in the first half of FY25, data shared by the Automotive Components Manufacturers Association (ACMA) showed. In FY24, their share was at 29%.
While India is developing capabilities through private investments in areas such as electric vehicle battery cells, where China has an estimated 70% share of the global EV battery market, there are certain areas which require large investments, said a senior industry executive.
This story is from the December 19, 2024 edition of Financial Express Pune.
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This story is from the December 19, 2024 edition of Financial Express Pune.
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emissary he had deployed. Although sceptical, I bounded off to North Block and was ushered in. It was my first official meeting with the FM. I conveyed the request, not a direction, of the prime minister. Dr Singh was puzzled — I could see that on his face — by the message or, perhaps, the messenger. He listened politely and told me that the second step had already been taken within minutes of the markets opening at 10 am.
