Indian Automobile Industry- Cruising At A Reliable Speed
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The Indian automobile industry is geared to become a serious contender in the global Automobile industry. The government as well as industry players have been making pioneering efforts for adopting modern technology and for opening the sector to foreign players. The prevailing economic factors encouraging privatization and FDI have been of great significance in furthering the prospects of the industry. Conscious efforts have been made to fine-tune policies with the objective of freeing the industry from the earlier restrictive environment. The burgeoning Indian economy characterized by steep hike in incomes, as well as easy availability of loans are being recognized as factors sharp rise in automobile sales. As a result of liberalization there is heightened competition in the domestic market, which has given way to continuous modernization while adhering to international standards. Aggressive marketing strategies with a host of easy loan repayment schemes have played a role in boosting automotive demand. Passenger car and two-wheeler are most crucial segments accounting for around 90 % of total sales volume in the industry. The ACMA (Automotive Component Manufacturers Association of India) is the nodal agency for the Indian Auto Component Industry. The agency is actively associated with technology up-gradation, trade promotion, quality enhancement, sourcing and disseminating information. SIAM (Society of Indian Automobile Manufacturers), the apex Industry body is an association of more than 35 top vehicle and vehicular engine manufacturers in the country. The agency organizes biennial Auto Expo series of trade fairs in co-operation with Automotive Component Manufacturers Association of India (ACMA) as well as Confederation of Indian Industry (CII). Subsequent to the impressive success of the Auto Expo Show and the "International Bi-Wheeler Auto Show 2006", the government has made plans to hold such shows on annually to drive home investments from new international auto companies. For further information about please read the report " Indian Automobile Industry- An Analysis (2005-2010)," published by RNCOS at: http://www.rncos.com/Report/IM028.htm RNCOS is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our other reports, please visit us at our website: - http://www.rncos.com/Report.htm or email us at info@rncos.com. To get the latest news on World Automobile Industry, please visit our newly launched Blog section at http://www.rncos.com/Blog/automobile.html
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