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Indian Automobile Industry on a Fast Track
May 03, 2007

Indian automotive sector has carved its niche in the global market. Major European and US automotive honchos, like BMW and Daimler Chrysler, are recognizing and accepting the Indian vehicles and components.

The rising level of disposable income, especially that of young adults, and low EMI values are making the vehicles more affordable. As overseas players' main focus is on passenger vehicles, their domestic counterparts are trying hard to catch up and strife by investing largely in R&D and working to improve their overall efficiency.

Indian Prime Minister, Manmohan Singh emphasized that the government would take all the necessary measures to make India world's manufacturing workshop.

Ministry of Heavy Vehicles is preparing a mission plan for automotive sector for the period 2006-2016 to raise its turnover by four times. The mission plan would take into consideration all the strata of the society, particularly the lower section in rural locales.

As per a Research Analyst's view at RNCOS, who has recently researched a report on "
Asian Automotive Industry (2007)", Indian automobile is currently one of the top auto industries in Asia. The sector will see a further growth with the government support.

Related Market Research Reports:
Indian Automobile Sector - A Booming Market
Global Hybrid Car Market Forecast to 2010
Slovakia Automobile Sector Analysis