The Indian Auto Industry – Driving the National Economy Forward
The Indian automobile industry is one of the fastest growing business sectors in the country. The pace of development of this sector over the last few years has indeed been remarkable and more than 2.6 million vehicles are manufactured every year in the nation – an impressive figure in itself. The industry is largely dominated by the small cars segment, which accounts for a whopping 75 per cent of the total production numbers. A detailed study of the domestic automobile industry would throw up further interesting and informative facts and figures. Popular trade shows like the Auto Expo Delhi are instrumental in facilitating smooth and seamless transfer of such topical details of this booming industry.
The auto sector of the country is characterized by the presence of a large variety of different types of vehicles. Passenger cars, multi-purpose vehicles, utility cars, commercial vehicles, goods carriers, two wheelers and three wheelers are some of the main types of automobiles that ply on the Indian roads. Apart from the last two categories, the rest have all registered significant positive growth rates over the past five years or so. In order to gain a deeper insight into the sales trends of the different types of Indian automobile models, a visit to the Auto Expo India trade show would be ideal.
The automobile sector of the country has a critical role to play in India’s external trade sector as well. As of now, the nation ranks as the fourth largest auto exporter in the world, behind South Korea, Thailand and Japan. Several top global vehicle manufacturing companies, like General Motors, Honda, Hyundai and Volkswagen, have also started their operations in India, providing a significant boost to the production and efficiency levels of the car-making industry of the nation. At Auto Expo Delhi, international vehicle brands would be showcased in large numbers, highlighting the extent of foreign participation in the Indian automobile markets.
The economic liberalization policies of the Indian government have also come as a blessing to the domestic auto manufacturing sector. In particular, the relatively relaxed foreign investment norms have ensured that the industry never has been forced to face fund-crunches, under any circumstances. As a direct consequence, the annual turnover figures of the national automobile industry has grown by leaps and bounds over the last few years and currently stand well in excess of Rs. 100000 crores. The rapid growth of this industry has also resulted in a spurt in the number of auto sector related trade shows and business events being organized in the country. The Auto Expo 2012 event is one of the best examples of such topical trade events in the nation.
The north Indian auto markets is highlighted by the presence of several top domestic vehicle brands, like Tata, Yamaha, LML, Eicher, Swaraj, Mahindra and a host of other highly reputed automobile companies. The rapidly increasing consumer demand levels have also helped the car manufacturing sector of the country scale significant business peaks over the years. The healthy competition levels existing in this sector have also helped companies attain greater technical expertise and finesse as well. The latest advancements and innovations from this sector would also be highlighted at the Auto Expo show.
The Indian automobile industry seems poised for further development in the near future. With rapidly accelerating revenue figures and an increasing role in the export sector, the automobile industry indeed looks set to become an even more critical component in the national business economy.
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