The Indian Auto Industry Overview
Since the invention of the internal combustion engine, there have been many incredible innovations made in the auto industry.
Manufacturers created new body styles and market segments, automatic transmissions and power steering were introduced, and safety features such as airbags made passengers much safer. Computers were even added into cars to optimize performance and provide GPS for navigation purposes.
In short, vehicles got cheaper, lighter, stronger, safer, cleaner, faster, and more luxurious.
But despite this, there is a strong case that the biggest innovations in the auto industry are yet to come.
Make in India campaign is forming the shape of the future Indian Automobile industry. Despite of its amazing development rate, India has constantly fallen behind China as far as assembling potential because of the unpredictability of the Indian market and the insufficiency of past governments. To resolve this issue, Prime Minister Narendra Modi introduced ‘Make in India’ to enhance India’s status as a worldwide manufacturing centre point. This incorporated the presentation of new government approaches that will help expand India’s generation abilities and in this manner make new and various openings for job opportunities. The Government of India encourages foreign investment in the automobile sector and allows 100 per cent FDI under the automatic route. The government is planning to set up a committee to develop an institutional framework on large-scale adoption of electric vehicles in India as a viable clean energy mode, especially for shared mass transport, to help bring down pollution level in major cities.