There is a continued slowdown in the domestic vehicle industry, a latest update from the Automotive Component Manufacturers Association of India (ACMA) noted. The apex body representing India's Auto Component manufacturing industry, has announced the findings of its Industry Performance Review for the fiscal 2018-19. The automotive component industry that contributes 2.3% to India's GDP, 25% to its manufacturing GDP and provides employment to 50 lakh people, stood at Rs.3.95 lakh crore (USD 57 billion) for the period April 2018 to March 2019, registering a growth of 14.5 per cent over the previous year.
