announcements with regards to increased spend on road infrastructure voluntary scrappage policy research and development and the productionlinked incentive scheme among others augur well for the automotive sectornew delhi the domestic auto component industry is expected to log in doubledigit growth next fiscal as demand picks up month on month after a prolonged period of downturn according to industry body automotive component manufacturers association of india acma speaking at an event here acma president deepak jain said that the next financial year is going to be a year of rebound for the indian automotive industry advt with strong growth prospects for all segments of the vehicle industry the auto component industry is also expected to clock double digit growth jain said he however noted that the industry remains cautiously optimistic about immediate future prospects as headwinds like high commodity prices shortage of semiconductors and shortage of containers and increasing freight costs could impede growth jain while thanking the government for its initiatives like supply side interventions and change in definition of the msme sector said the industry as a whole was tested hard last year owing to the covid19 pandemic he noted that the vision of an atmanirbhar bharat enshrined in the recently announced union budget coupled with the nationfirst thinking would act as the bedrock to propel the industry forward announcements with regards to increased spend on road infrastructure voluntary scrappage policy research and development and the productionlinked incentive scheme among others augur well for the automotive sector jain said besides continued focus on building rural and agricultural infrastructure and prioritising agriculture credit growth would have longterm positive impact on rural demand for vehicles he added advt it is heartening that the budget outlay for the msme micro small and medium enterprises sector has been doubled compared to last year the auto component industry is dominated by msme and this will provide them the necessary succour as the industry recovers jain noted the auto component industry is confident that all these measures will pave the way for an atmanirbhar automotive supply chain in india with sustainable growth he said pti published on feb 25 2021 at 0928 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app auto components union budget acma auto components demand deepak jain msme homenewsauto componentsauto component industry set to log in doubledigit growth next fiscal acma