Revenues of auto-parts SMEs set to grow 10-14% in FY22: Crisil SME Tracker

Growth in demand for automotive components is on track to accelerate in the current fiscal year (FY 22), given that automobile purchases have darted ahead after the easing of pandemic restrictions, reopening of offices and educational institutions, and public places.

The increasing desire for personal mobility is driving passenger vehicle and two-wheeler sales growth. Even though these segments have been partially affected by semiconductor shortage, overall demand sentiment continues to be resilient. 

Small and medium enterprises (SMEs), which account for one-third of the sector, were badly hit in FY 21 due to the pandemic and countrywide lockdowns. Now, they are