Revenue growth of auto component industry to moderate to 5-7% in FY25: Report
According to Icra estimates, its sample of 45 auto ancillaries, with aggregate annual revenues of Rs 2.7 lakh crore in FY23, is likely to grow by 9-11 per cent in FY24, driven by healthy domestic demand despite a high base and moderate growth in exports.
It also noted that capex towards capacity enhancements and technological development resulted in higher investment in FY24, which is likely to continue in FY25. Image Courtesy: Reuters.