THE DOMESTIC manufacturing of automobile components holds paramount importance for India’s economic growth and development. The Indian government’s proactive stance on promoting domestic manufacturing through incentives, coupled with supply constraints in China, has created a favourable environment for the country’s automotive component manufacturers.
The indigenous automakers such as Maruti, Tata, and Mahindra command a substantial 65 per cent share of the market, underscoring the ongoing success of the domestic automotive industry.
As per the report by the India Brand Equity Foundation (IBEF), during the fiscal year 2023, passenger vehicle sales reached a total of 3.89 million units. In the same period, India’s automobile exports amounted to 47,61,487 units.
Diese Geschichte stammt aus der January 13, 2024-Ausgabe von BW Businessworld.
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Diese Geschichte stammt aus der January 13, 2024-Ausgabe von BW Businessworld.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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