India is no more a backward country with bullock carts and horse carts running on roads. On the contrary, it has successfully developed and modernized at its own pace. The automobile sector is also growing but at a higher pace.
Indeed it forms one of the fastest-growing sectors in the Indian economy, and so is the popularity of automobiles in India. Be it cars, mopeds, vans, buses, or tractors; the vehicles are manufactured at large. Some cars and other automobiles are imported and exported every year.
There are various major players in the automobile sector in India. For example, Sonalika Tractors, Ashok Leyland, HMT Tractors, Royal Enfield, Chevrolet LML India, BMW Kinetic Motor Co. Ltd., Force Motor, Monto Motors, Toyota, Kirloskar Motors, Ford Motors, Ford, Mercedes, Chevrolet, Volkswagen, Nissan Motors TVS Motor Co.
Hero Honda, Reva Electric Co., Volvo, Hindustan Motors, Yamaha Motor, etc., are among them. . Indian automobile industry is the tenth-largest in the world. Every year new and advanced models of cars and other vehicles are launched by various leading manufacturers suiting the consumer needs.
With the increase in per capita income, the purchasing power of people has also increased. As a result, more and more people are turning to private vehicles and have become a successful affordable mode of transportation. As a result, the Indian automobile industry is currently growing at around 18 % per annum, which is remarkable.
Such tremendous progress has fueled and is a result of economic liberalization by the Indian government. Progress has accelerated ever since foreign direct investment has been allowed. International automobile giants have helped the Indian automobile sector to enlarge by setting up a local basis.
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The technological changes and progress successfully led to the progress of the automobile sector in India. The automobile industry in India is one of the fastest-growing automobile industries and has made its position globally.
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