Even as the Indian auto component industry is managing the downturn without major job cuts, there will be job losses to the tune of about 10 lakh if the situation continues, said a top official of the Automotive Component Manufacturers Association of India (ACMA).

"Most of the auto component makers are managing the downturn by reducing the number of working days and retraining the workers. There are job losses. But that is being minimised as we know that getting back a trained worker is difficult," Ram Venkataramani, President, ACMA, told IANS.

According to him, the crisis in the automotive industry is unprecedented. The 15-20 per cent cut in production by vehicle makers has led to a crisis like situation in the auto component sector.

"If the trend continues, an estimated 10 lakh people could be laid-off," Venkataramani said.

The automotive component industry contributes 2.3 per cent to India's gross domestic product (GDP), 25 per cent to its manufacturing GDP and provides employment to 50 lakh people.