India stands at a recognizable place in this sector. India holds a commendable position in automobile sector. It produces around 4 million cars and commercial vehicles. It is occupies one of the largest Asian market in the world in 2015/2016. The automotive sector is witnessing a continual growth and is holding a significant position for Indian citizens with 14.9 million jobs that are projected to exist by 2022.
India’s automobile industry is intensely rooted with our socio-economic conditions. It also called as engine of growth. It has a profound impact on the lives of the common man besides elite class. The auto industry in India contributes 18% to the total excise revenue .Auto industry currently employs 19.5 million people both directly and indirectly. So it plays a significant role in solving the employment problem of India.
Auto industry contributes 25% to the total manufacturing GDP. The statistics reveal the astonishing fact about the alarming growth of automobile industry ever since India jumped into this sector. Further as exports are concerned , the statistics reveal the fact that India’s exports showed an increase from 2007-2008 through 2016-2017 . The export figure touched 446,000 approximately. So to conclude India‘s stand in automobile industry has been at a pace with other Asian countries.