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Automobiles In India: Adding to the Overall Economic Progress



When it comes to automobiles, you can say that India has not lagged behind in the race. Automobiles form one of the fastest growing sectors in the Indian economy. Such is the popularity of automobiles in India. May it be cars, vans, mopeds, buses or tractors, a large number of vehicles are manufactured, exported as well as imported each year. It is one of the busiest trades the country is involved in.

The growth of automobiles in India has been spurred on in a few years. Till the early 1990s, India had only a few local industries. Ever since foreign direct investment has been allowed in 1996, international automobile giants have moved in setting up local bases and helping the sector to enlarge at an accelerated speed. It has taken only a decade or so for the automotive sector in India to reach its current position. Now, India is the second largest producer of two-wheelers. In terms of passenger cars, she ranks 11th. Regarding exports, she has secured the 29th rank for automobiles and 26th for auto parts. There is also the fact that this sector employs more than 3,00,000 people.

Automobiles in India are diverse in range. New models come up everyday and you have the chance to choose between, say, a Ford and a Maruti. Such a swift progress has been fueled by the Indian government’s economic liberalization. It also does not hurt that India has one of the largest middle-class population in the world who account for the bulk of the buyers. There is also the fact that the per capita income has been raised and more people can now afford to buy private vehicles. So, consumer demand has also played a role in furthering the growth of the automobile sector.

Hence, the scenario presented by automobiles in India is one of ongoing progress and development. You can buy the vehicle of your choice from a number of automobile stores across the country.

Summary:

Automobiles in India form one of the fastest growing sectors. There are many automobile industries, whether local or international, which now operate in India. You can choose from a wide variety.

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