ACMA says demonetisation will help stem menace of fake parts
Vinnie Mehta, director general, ACMA says, "The demonetisation will help evolve the unorganised auto components aftermarket into an organised one."
The Automotive Component Manufacturers Association of India (ACMA) believes the government’s recent demonetisation move will hit the fake parts trade in the country.
According to Vinnie Mehta, director general, ACMA, “We welcome the government’s initiative of demonetisation and extend full support to its implementation. While in the short run it has adversely impacted the auto component market, it has created the right conditions for the industry to progress into one that is digital-friendly and thus prepare it for the next big reform – the GST. We expect the market to pick up by early next quarter as the situation stabilises with better cash availability in the system. The demonetisation will also help evolve the unorganised auto components aftermarket into an organised one, thus helping curtail the menace of counterfeited products.”
Also read: ACMA’s first expo in Guwahati reveals untapped potential of North East India
RELATED ARTICLES
JSW MG Motor India confident of selling 1,000 M9 electric MPVs in first year
The 5.2-metre-long, seven-seater luxury electric MPV, which will be locally assembled at the Halol plant in Gujarat, wil...
Modern Automotives targets 25% CAGR in forged components by FY2031, diversifies into e-3Ws
The Tier-1 component supplier of forged components such as connecting rods, crankshafts, tie-rods, and fork bridges to l...
VinFast’s second plant in Vietnam goes on stream ahead of India factory
Vietnamese EV maker’s second plant in its home market, which has a 200,000 EVs-per-annum capacity, will focus on produci...