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Automobile Industry-THE ROAD AHEAD

  • India’s automotive industry is one of the most competitive in the world. It covers 97 per cent of technology or components required to make a car.
  • Leading auto maker Maruti Suzuki expects Indian passenger car market to reach four million units by 2020, up from 1.97 million units in 2014-15.
  • India has the potential to be among the top five markets, outside of Europe, by 2020.
  • The Indian automotive aftermarket is estimated to grow at around 10-15 per cent to reach US$ 16.5 billion by 2021 from around US$ 7 billion in 2016.
  • It has the potential to generate up to US$ 300 billion in annual revenue by 2026, create 65 million additional jobs and contribute over 12% to India’s GDP.

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