India’s automotive industry poised new to rank number 3 in world by 2030: Govt

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automotive industry poised new

New Delhi: India’s automotive industry is poised to rank number three in the world by 2030, with various schemes like the Rs 25,938 crore PLI for Automobile and Auto Components supporting the sector’s growth, the government said on Monday. Ministry of Heavy Industries (MHI) is organising a conference on Tuesday to review the performance of the Production Linked Incentive -Auto Scheme. The meeting with stakeholders will be chaired by Heavy Industries Minister Mahendra Nath Pandey.

automotive industry poised new

automotive industry poised

The event shall have special focus on understanding the opportunities available through this scheme.

“MHI considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of the scheme,” the ministry stated.

The stakeholders expected to be present in the meeting include PLI-Auto applicants, test agencies etc, who will share their knowledge and experiences and address concerns and challenges.

“The cascading effect of these schemes will lead to the growth of automotive industry and it is poised that the Indian automotive industry will rank number three in the world by 2030. MHI considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of scheme,” an official statement said.

It emphasised that the goal of deep localization and development of Advanced Automotive Technology (AAT) products within the country cannot be achieved without the support and growth of the automotive industry. automotive industry poised new

The automotive industry in India is one of the main pillars of the economy. With strong backward and forward linkages, it is a key driver of growth. The contribution of this sector to the national GDP has risen to about 7.1 per cent from 2.77 per cent in 1992-93. It provides direct and indirect employment to over 19 million people.

In the automobile market in India, two-wheelers and passenger cars accounted for 77 per cent and 18 per cent market share respectively during 2021-22. Passenger car sales are dominated by small and mid-sized cars.

India aims to double its auto industry size to Rs 15 lakh crore by end of year 2024. There has been an FDI inflow of USD 33.77 billion in the industry from April 2000 till September 2022 which is around 5.48 per cent of the total FDI inflows in India during the same period. 

The chief operating officer (COO) plays an important role in steering the organisation. Though the chief executive officer (CEO) is a step higher in the hierarchy, their responsibilities can sometimes seem similar. For an organisation to function smoothly, it is important to understand how a COO benefits a business.

A 2006 Harvard Business Review article on the “second in command” role of a COO says that there is very little that is common among the skills and backgrounds of COOs of different organisations, making it very hard to answer “what makes a successful COO?” automotive industry poised new

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The mobility of the future is “eascy” – electrified, autonomous, shared, connected and “yearly” updated. In this study, we describe the factors influencing the sector leading up to 2030 in the key US, Europe, and China markets. It also describes how the automotive industry should restructure itself in terms of volume, scale, and complexity.

Through mathematical modeling of key performance indicators and demographic trends, the paper discusses:

  1. Mobility behaviour of users through social personas and how they could influence traffic demand;
  2. External factors that will influence mobility habits, vehicle mileage and frequency of usage;
  3. Predictions of car inventory, replacement cycles and new sales; and
  4. Implications for manufacturers, suppliers, service providers and their business models.

automotive industry poised new

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