A study on the growth of automobile sector in India with special focus on two wheeler industry
Tom Jacob, Thomas Paul Kattookaran
The Indian Automobile market is a promising industrial sector that is growing immensely every passing year. The automobile industry has an enormous opportunity for creating new wealth by delivering value to the world and also to the domestic user. This paper aims to analyze the growth and role of automobile industry in terms of production, domestic sales & exports and to analyse special focus on segmental analysis of two wheelers industry in India. The increase in the demand for automobiles, powered by the increase in the income is the primary growth driver of the automobile industry in India. The introduction of tailor made finance schemes, easy repayment schemes has also helped the growth of the automobile sector. After the liberalization the automobile segment saw a boom and many companies from India as well as foreign entered the market. With liberalization, Government abolished licensing and removed restrictive trade policies. Automobile industry benefited greatly from these measures. The automobile industry in India happens to be the ninth largest in the world, following Japan, South Korea & Thailand.