Latest trends and technologies in auto sector in India

Automobile industry in India is one of the biggest car markets across the globe and it is also growing at fast pace. In the year of 2011, Indian auto market manufactured almost 3.9 million cars. Newly released figures mention that India has pip nation like Brazil in this regard. It also performed well as compared to industries like Belgium, Mexico, UK, Russia, Italy, Spain, Canada and France as fare as passenger vehicle section is concerned.

In 2011-12 fiscal nearly 3 million cars were sold in this section making it annual growth of almost 16-18% compared to 2010-11. It has also been one of the key exporters of passenger cars in Asia continents along with nations such as Japan, Thailand and South Korea as well as has occasionally performed well in comparison with these countries as well.

Car Companies in India – Latest Trends and Developments

India as a country might be seeing a rate of economic growth that is the lowest in this decade but some sections are still doing well according to the experts.

In first four months of 2012-13 fiscal automobile sales have increased in the country by 5.6% as per statistics provided by SIAM (Society of Indian Automobile Manufacturers).   

Society had target of 10-12% for the period and growth is still lower than that. Though, compared to 2011-12 when industry was flat.  

IHS Automotive has predicted that by the year of 2016 annual rate of growth of sales for automobile sector will be 10.9% taking sales figure to nearly 4.88 million.

India Automobile Industry Technological Regulations and Future Developments

Car manufacturers in India have been trying their best efforts to implement emission and safety norms which are applicable in global markets to ensure that industry maintains a sustainable growth rate. Automobile India hoped that these rules will also help country to improve exports and become a major regional center.  

Government initiatives for automobile industry

Indian Government has introduced National Automotive Testing and R&D Infrastructure Project (NATRIP) which will look to create core competencies in national automotive sector which are equivalent to international standards. This project will also help auto industry becoming a major part of world economy.

Project will target to create best infrastructure in testing, research and development and validation as well as help industry achieve international repute. Project will invest INR 1718 crores in 3 automotive centers across the nation for establishing quality homologation facilities. Locations for centers are Manesar, Haryana, Ahmednagar and Pune, Maharashtra and Chennai, Tamil Nadu. Government has also announced Automotive Mission Plan for 2006-2016.