Automobile Industry and Its Impact on Economy

Automobile industry in India at present is one of the biggest industries that is facing stiff competition for domestic as well as foreign competitors and also it is the major contributor to Indian economy.  Launch of new car or other automobile is not uncommon now and these are made in such a way that a common man feels no more neglected in the crowd of fat bellies. Indian automobile industry has seen first major growth in 1991 with the de- licensing by government. Since that time many major global companies have selected India as their main destination for setting up new manufacturing as well as assembling units.

Indian automobile industry is the ninth largest in the world and it is the fourth largest exporter of automobiles after Japan, South Korea and Thailand. Not only this, but in the coming years, the automobile industry in India is expected to cross all the marks and promises to become one of the major industries across the world.  It is not only the sale that we are talking about, but in this the design, manufacturing, and marketing are also considered. Maruti Udyog, Honda Siel Cars India Ltd., Hyundai Motors India Ltd., Fiat, General Motors India Pvt. Ltd., Hindustan Motors , Mahindra, Toyota, Kirloskar Motor Ltd., are the leading players in automobile sector. Hero Honda, Bajaj and TVS are the most talked about brands of two wheelers whereas Tata-Telco, Eicher Motors, Bajaj, Mahindra and Mahindra are known for heavy duty vehicles and multi-utility vehicles.

Automobile Industry India Facts

• India is the largest producer of tractor and three-wheelers.
• It is the fourth largest producer of commercial vehicles.
• In car production, the position of India is eleven across the globe.
• Jamshedji Tata was the first in India to own a care.
• Mrs. Suzanne RD Tata. Was the first Indian women to drive a car.
• India is the largest manufacturer of two wheelers in the world.
• In two wheeler industry motorcycle contribute 80% share. India is the second largest producer of two wheelers.

There is a great network of car dealers and automobile authorized service stations in India leading to further growth of this sector as people are now comfortable in buying any car. Even the big cars and other automobile giants are working on this part of industry to fetch more buyers.

Role of Government is immense in the overall growth of the automotive industry in India because it has liberalized many norms for foreign investment and import policies. The whole sector has also adopted global values and standards. Such things for sure cause the robust growth of the any sector. Even the Government is all set for the ten years plan i.e. Automotive Mission Plan (AMP) to remove further obstacles in this sector.

In such a big industry the automobile industry tenders are not the unswayed thing. Various kinds of automobile tenders keep the transaction and trade happening at faster pace. Automobile vehicle spare part and repair tenders are the most common of all kinds of automobile tenders.  As the auto components industry is also growing so you will also find numerous these automobile tenders.  There are at present more than 500 firms in organized sector that are into the production of auto components in India. Complete range of auto-components including engine, suspension and braking parts, transmission part etc are now manufactured in India.