Indian auto industry - evolution and importance of Automotive components
The automotive sector in India contributes to 5% of the nation’s GDP and 17% of the indirect taxes as a result of which the government last year
charted a 10-year blueprint for the sector’s growth. This envisages the automotive sector “output reaching a level of $145 billion accounting for
more than 10% of the GDP” by 2016.
However, India’s auto industry is maturing not only in quantitative terms. Indigenous vehicle and component makers are investing in research and
development, engineering and design capabilities. Some of them have developed their own vehicles such as Mahindra & Mahindra with its Scorpio and
Tata Motors with its Indica and now the Nano, the cheapest car in the world with a tag of $2,500.
Companies are now looking beyond the domestic market by boosting their overseas sales and buying foreign companies whether for technology,
customer base or physical assets. Some, such as Bharat Forge and Tata Motors Ltd – when Land Rover and Jaguar will be integrated – derive about
half their total revenues from foreign markets.
The Indian supplier report ( http://www.globalknowledgeresearch.com/reportdetails.asp?id=38764 ) is the most detailed report available regarding
the history, capabilities and plans of the Indian supply base.
The report will be of interest to everyone in the industry interested in sourcing from or investing in the subcontinent, or those who just need to
understand the potential of the Indian industry in their sector. The report includes in-depth company profiles of over 110 of India’s top suppliers.
For vast range of market reports please visit: http://www.globalknowledgeresearch.com/category.asp?id=469
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Global Knowledge Research Centre
Phone: +91 22 3299 3282
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Website : www.globalknowledgeresearch.com
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