The Automobile industry is the key force of any growing and developing an economy. A solid transportation system plays a significant role in a country’s rapid growth in economic and industrial development.
Indian automotive industry is fully grown and competent enough to produce a wide variety of vehicles. The automobile industry comprises automobile and auto component sectors. It includes passenger vehicles; light, medium and heavy commercial vehicles; multi-utility vehicles such as jeeps, scooters, motorcycles, three-wheelers and tractors; and auto components like engine parts, drive and transmission parts, suspension and braking parts, and electrical, body and chassis parts.
India’s automotive industry is now estimated at around $30 billion and would reach $150 billion in another ten years. The automotive industry in India is growing at a rapid rate with sales of more than million passenger vehicles per year. This gives the overall growth rate of around 15% per cent per annum. According to the recent survey , India is the world’s second largest manufacturer of two-wheelers, fifth largest manufacturers of commercial vehicles as well as the largest manufacturer of tractors. It is the fourth largest passenger car market in Asia.
Some of the giants in this field are Tata, Mahindra, Daewoo Motor India, Hyundai Motors India and General Motors India, Maruti, Ashok Leyland, Bajaj, Hero Honda, Ford, Fiat and few other. One should also note that this industry has close connections with almost all major engineering divisions. According to Ken Kelzer, GM’s Global VP of Vehicle Components and Subsystems, many of the auto industry jobs for which demand will increase over the next several years will be focused on integrating consumer electronics–tablets, touchscreens, mobile technology–into vehicles.