Auto component industry's revenue growth may come down to 5-7% in FY25: ICRA.

According to a report by ICRA, the Indian auto component industry's revenue growth is expected to decrease to 5-7% in fiscal year 2025, compared to around 14% in fiscal year 2024. The report also states that operating margins are projected to improve by around 50 basis points in fiscal year 2025. Additionally, G20 Sherpa Amitabh Kant emphasizes the need for electric vehicle (EV) adoption in India, stating that it could save $10 billion and create millions of jobs by 2030. Kant suggests fully electrifying India's 50 most polluted cities by 2030 to achieve these benefits. [Extracted from the article]