The Automobile industry is the key force of any growing and developing an economy. A solid transportation system plays a significant role in a country???s rapid growth in economic and industrial development.
Indian automotive industry is fully grown and competent enough to produce a wide variety of vehicles. The automobile industry comprises automobile and auto component sectors. It includes passenger vehicles; light, medium and heavy commercial vehicles; multi-utility vehicles such as jeeps, scooters, motorcycles, three-wheelers and tractors; and auto components like engine parts, drive and transmission parts, suspension and braking parts, and electrical, body and chassis parts. India???s automotive industry is now estimated at around $30 billion and would reach $150 billion in another ten years. The automotive industry in India is growing at a rapid rate with sales of more than million passenger vehicles per year. This gives the overall growth rate of around 15% per cent per annum.~ Asked by Vignesh, On: Oct 24, 2016