Automobile Industry and Auto Components, Automotive Components, Spare Parts, Auto Parts, Car Parts, Replacement Parts, Tractor Parts, Motorcycle Parts, Auto Body Parts, Two Wheeler, Three Wheeler and Four Wheeler Parts, Accessories & Spares Manufacturing

Description:

The automobile industry isone of the key drivers that boosts the economic growth of the country. TheIndian automotive industry includes two-wheeler, trucks, cars, buses, threewheeler and four wheeler which play a crucial role in growth of the Indian economy.The country is expected to top the world in Car volumes with approx. 611Million vehicles on the nation’s road by 2050. The economy progress of thisindustry is indicated by the amount of goods and services produced which givethe capacity for transportation and boost the sale of vehicles. There is hugeincrease in automobile production with a catalyst effect by indirectlyincreasing the demand for a number of materials like Steel, Rubber, Plastics,Glass, Paint, Electronic and Services.

The Indian auto industry isone of the largest in the world. India’s automotive industry is one of the mostcompetitive in the world. It does not cover 100 per cent of technology orcomponents required to make a car but it is giving a good 97 per cent. TheIndian automotive sector has the potential to generate up to US$ 300 billion inannual revenue by 2026, create 65 million additional jobs and contribute over12 per cent to India’s Gross Domestic Product.

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