India has a huge automobile industry. The country ranks 4thin Asia and 9th in the world as the world’s largest automobile Industry. India has an annual production of approximately about 2.3 million units.
Presently, India is the world’s largest manufacturer of tractors, second-largest manufacturer of two-wheelers, and fifth-largest manufacturer of commercial vehicles.
The automobile industry in India gained momentum after the liberalization in 1991. The industry has continued to grow consistently and is increasingly becoming competent in the global market. In the recent past, India has seen an upsurge in the automobile industry thanks to its relaxed restriction on the investment policies in the sector. India’s overall economic growth has also played a significant role in attracting foreign investors in India to invest in the automobile sector of the country.
The automobile sector in India has displayed great advances in relation to the utilization of new technologies and being…