Automobile Industry In India: An Overview

Indian Automobile industry is one of the leading automobile industries in the world. The scenario started changing after relicensing of the Indian sector in 1991. The opening up of 100 per cent FDI through the automobile route marked the beginning of a new era for the Indian automotive industry. The automobile industry contributes 7’0 per cent to the country’s gross domestic product (GDP) and annual production of 23.96 million vehicles in FY 2020-21. India exported 4.13 million of vehicles in 2021. Indian automobile industry includes the manufacture of trucks, buses, cars, defenses vehicles, two-three wheelers etc. The automobile industry broadly divided into car manufacturing, two-wheeler manufacturing, and heavy vehicale manufacturing units.