Spare Parts Operations Executive Level 3

Indian Automotive Industry: The Way Forward

The growth of the Indian Auto Component Industry in the first decade of the 21st Century is phenomenal. The Industry transformed gradually in stages from serving just the Indian market to the replacement market, to global OEMs and the replacement market. The Auto Component Manufacturers Association (ACMA) has significance because of its global recognition and has an impact on the GDP. It has a supporting role in the growth of the Indian Automobile Sector and in future as per the Automotive Plan 2006-16, Vision 2020:21 and the Automotive Sector five year plan (2012 ? 17) as projected by the Department of Heavy Industry, the Ministry of Heavy Industries and Public Enterprises. This research paper highlights the growth of Indian Auto Component

Industry relating with Investments and Foreign Direct Investment (FDI) in Equity inflows, drawing comparison with the developments and growth of the Indian Automobile Industry, more specifically to Two Wheelers, Passenger Cars and Commercial Vehicles ? Domestic Sales and Export earnings.

Future Trends of the Indian Automotive Industry

The liberalization of the Indian industry saw significant growth in the Indian Automotive Industry. Today, the Indian Automotive Industry is a significant contributor to the Indian economy, contributing nearly 5% to the country?s GDP and about 17-18% to the kitty of indirect taxes to the Government, while the investment outlay stood over Rs. 83,500 crore in 2008-09. With its wide penetration and strong influence on the country?s economic and industrial development, the auto sector is indeed one of the major drivers of our economy. Moreover, economic liberalization coupled with its technological, cost and manpower advantage have made India one of the prime business destination for many global automotive players.With its strong influence on the country?s economic and industrial development it is indeed one of the major drivers of our economy. Moreover, economic liberalization coupled with its technological, cost and manpower advantage have made India one of the prime business destination for many global automotive players.

The sector has moderate direct employment and significant indirect employment; it is estimated that the sector provides direct and indirect employment to over 13 million people.

Automobile and Auto Ancillary Industry Trends

The Automotive Mission Plan for the period of 2006-2016 aims to make India emerge as a global automotive hub. The idea is to make India the destination of choice for the design and manufacture of automobiles and auto components, with outputs soaring to reach US$ 145 billion which basicallyaccount for more than 10% of the GDP. This would also provide further employment to over 25 million people by 2016 making the automobile sector the sunrise sector of the economy.

According to the Confederation of Indian Industry, the automobile sector currently employs over 80 lac people. An extension in production in the automobile industry is forecasted, it is likely to rise to Rs. 600000 crore by 2016.This means there will be an increase in job opportunities for Spare Parts Operations Executives Level 3.