Time to unleash the full potential

When Wuhan in China was identified as the epicentre of Covid-19 pandemic, it was a watershed moment for the auto sector in India.

- Manav Kapur

When Wuhan in China was identified as the epicentre of Covid-19 pandemic, the crisis was no less than a watershed moment for the automobile sector in India. A time to unleash the full potential, India can turn a new leaf from outsourcing various components from one of the world’s largest manufacturing hubs. A prosperous abode of USD 100-billion automotive industry; the fourth-largest in the world and an employer to more than 32 million people, the India automotive sector contributes nearly 7.5 per cent to the country’s overall Gross Domestic Product (GDP). With an estimated 50 per cent share in the manufacturing sector and owing to the significant importance held as a sector on the whole in the Indian economy, there is a huge potential waiting to be tapped.