AUTOMOTIVE INDUSTRY

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The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest economic sectors by revenue.The outstanding contribution of the automotive industry to technological advance was the introduction of full-scale mass production, a process combining precision, standardization, interchangeability, synchronization, and continuity.

The automotive industry in India is one of the largest in the world.The Indian auto industry became the 4th largest in the world with sales increasing 9.5 per cent year-on-year to 4.02 million units (excluding two wheelers) in 2017. It was the 7th largest manufacturer of commercial vehicles in 2018.India is also a prominent auto exporter and has strong export growth expectations for the near future. Automobile exports grew 14.5 per cent during FY 2019. It is expected to grow at a CAGR of 3.05 per cent during 2016-2026. In addition, several initiatives by the Government of India and the major automobile players in the Indian market are expected to make India a leader in the two-wheeler and four wheeler market in the world by 2020.The automobile industry is supported by various factors such as availability of skilled labour at low cost, robust R&D centres and low cost steel production.