US remains top importer of auto parts from India, Myanmar and Congo see sharpest decline in April-July

New Delhi, Aug 29 (FN Agency) With total exports value of US$ 547 million during April-July period of FY22, the US remains top importer of auto components from India. With huge pent-up demand as a result of global supply disruptions during the pandemic, the auto component shipments to the US jumped 167 per cent in the April-July period as compared to US$ 205 million in the same months last year. “USA remained the top importer of auto components in April-July 2021 with a share of 24.88 per cent,” said an EEPC India analysis of engineering goods exports.

The US is followed by Bangladesh, Germany, Turkey and Mexico with respective market shares of 5.87 per cent, 5.40 per cent, 5.15 per cent and 5.03 per cent. Bangladesh recorded a maximum increase of more than 230 per cent followed by Mexico, USA, Germany and Turkey in imports from April-July 2021 when compared to April-July 2020. Myanmar and Congo recorded a significant decline in auto component shipments from India of more than 40 per cent in April-July 2021 when compared to April-July 2020.