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Automobiles

Indian automakers make profits surpassing pre-COVID levels

Sales recover sharply while chip shortage and higher input price cast shadow

The automobile sector's vast value chain contributes nearly 40% to India's manufacturing gross domestic product, according to a research company. (Photo courtesy of Maruti Suzuki)

MUMBAI -- Indian auto companies witnessed a sharp recovery in earnings in the last quarter of 2020, as the festival season boosted sales despite an economic slowdown and rising cases of COVID-19.

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