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The been taken by the Government of India

The Indian auto industry is one of the largest industries in the world. The Industry accounts for 7.1 per cent of the country’s GDP. The two wheelers represents 80% of the market share and is considered the leader of the Indian auto market due to its growing middle class and young population. In addition, the increasing interest of companies in exploring rural markets has contributed to the growth of this sector. The public sector of passenger cars has a market share of 14 per cent.India is also a major exporter of automobiles and expects strong growth in terms of exports in the near future. Total vehicle exports rose 13.01 percent year-on-year between April and December 2017. Also, many initiatives have been taken by the Government of India and it is expected that major car manufacturers in the Indian market will turn India into a leader in the Two and four wheeler market in the world by 2020.The Indian auto industry has great growth potential due to its low levels of penetration and rapid growing Economy, with an increasing consumer income group. India offers some important advantages in terms of manufacturing base:• Large amount of skilled labour.• availability of land;• Other natural resources and a well defined legal environmentIndia is one of the fastest growing auto markets in the world. De-licensing in 1991 brought progressive changes in the business and development has been considered as suitable and comfortable. The large white-collar population, which has increased the level of wages and tangible innovation, has increased demand for cars in the country over the past few years. In recent years the country’s latest automotive demand has been strengthened. The Indian passenger car industry has grown by 7.2% in the financial year 2016 in accordance with 7% -8% from middle-year development. The segment, which constitutes 73% of the residential volume, developed by 7.9% took after by 6.3% in utility vehicles and 3.6% in the van portion. It is trusted that characterization of sub-fragments like official auto, medium size autos or utility vehicle has obscured with value cover inside the new model portions.Production of rider vehicles, industrial vehicles, 3 wheelers and 2 wheelers grew at eleven.27 per cent year-on-year between April-December 2017 to twenty one,415,719 vehicles. The sales of rider vehicles and 2 wheelers grew by five.22 per cent and forty.31 per cent year-on-year severally, in Gregorian calendar month 2017.The automobile trade is ready to witness major changes within the variety of electrical vehicles (EVs), shared quality, Republic of India Stage-VI emission and safety norms. electrical cars in India area unit expected to induce new inexperienced range plates and will additionally get free parking for 3 years beside toll [email protected] India’s electrical vehicle (EV) sales hyperbolic 37.5 per cent to 22,000 units throughout FY 2015-16 and area unit poised to rise any on the rear of cheaper energy storage prices and therefore the Government of India’s vision to examine six million electrical and hybrid vehicles in India by 2020.Overall growth in the period 2016-2017 is likely to improve slightly over nine months as the monetary situation returns to normal. Purchasing power may be greater, discounts from companies and the problem of companies to purchase vehicles some drivers in recent months.The main factors behind these growth rates were:- The common assumption is that the GST will be neutral in terms of the impact of cost and price- GDP growth above 7.5%- The Repo rate can only be reduced and, therefore, the rates are stable- Good monsoon and agricultural incomeWORLDThe global macroeconomic landscape in Fiscal 2016 was rough and uncertain and characterized by weak growth of world output. This situation was exacerbated by; (i) declining prices of a number of commodities, with the reduction in crude oil prices being the most visible among them, (ii) turbulent financial markets (especially the equity markets), and (iii) volatile exchange rates. Global growth remained moderate with uneven prospects across the major economies. The outlook for advanced economies is improving, while growth in emerging market and developing economies is projected to be lower, primarily reflecting weaker prospects for certain large emerging market economies alongside oil and raw material exporting economies. Oil prices have declined during Fiscal 2016 due to weaker than expected global activity and a weaker demand for oil. Exchange rate movements in recent months have been sizable, reflecting changes in expectations about growth and monetary policy across major economies. Long-term government bond yields have declined in major advanced economies, reflecting in part lower inflation expectations, the sharp decline in oil prices and weak domestic demand. The US economy growth was stronger than expected with accompanying job growth, resulting in a decline in the unemployment rate. Furthermore, lower oil prices, increases in incomes and0 improved consumer confidence have resulted in growth in the US.With ups and downs, the machine business has been on a roller coaster. Before 1900Prior to 1900, automobile production was a small-scale endeavor. Cars were crafted separately by complete mechanics, creating them rare and overpriced for the typical client. However, increasing demand for cars and trucks have driven these mom-and-pop institutions in becoming major producing homes, and many  consultants believe the machine business was born all along with the twentieth century.1900-1929o Popularity of gasoline engineso Technology driven by competitiono Assembly line1929-1950: The Great Depression1950-1980The industry sees the automobile taking over. It became possible due to automation to produce larger volume of vehicles with less number of vehicles.

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