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India’s Auto Parts Industry Grows 11%
The automotive parts business in India expanded 11% to 2.3 trillion rupees ($36 billion) in the fiscal year ended March 31, according to the country's Automotive Component Manufacturers Assn.
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The automotive parts business in India expanded 11% to 2.3 trillion rupees ($36 billion) in the fiscal year ended March 31, according to the country's Automotive Component Manufacturers Assn. It was the industry's biggest gain in four years.
The industry shrank 2% in 2013-2014. Last year's increase aligned with the Indian market's overall growth of 4% for passenger vehicles, 16% for commercial vehicles and 8% for two-wheelers.
Parts exports climbed 10% to 685 billion rupees. The industry's largest export markets are the U.S. (22%), Germany (8%) and Turkey (6%), according to the ACMA.