The Indian automobile industry is one of the fastest growing and largest industries worldwide. India has become a leading auto hub and the valuable global manufacturing base for automobile giants over the years. India has no lack of cost-effective production opportunities and added benefits of well-trained and skilled workforce at significantly low prices. Several international automotive companies are upbeat on the expansion plans in the country and are willing to get into the partnerships with Indian companies for auto manufacturing.
In 2010-11, the automotive industry in India got US $73 billion of total turnover and exports of US $11 Billion. Out of this, the auto component sector has witnessed US $30 Billion of total turnover and exports of US $5 Billion. The sector is all set to see huge growth due to several driving factors like economic growth of the country, vehicle penetration, India’s demographic image, huge investments from the government in infrastructure, and increasing salaries. By 2016, the auto component industry in India is all set to witness the overall turnover of US $66.4 Billion. It proves the fourfold growth of automobile industry over 10 years to come.
Possible Challenges
The highly competitive environment in the industry calls for strong support from senior management who can drive companies through hardships. The industry needs ability to generate innovative strategies for long term as well as change management skills. But the availability of such a highly technical staff is gradually decreasing and it may affect the growth trends of the industry in future.
Our Perspective
At SAG Group, we have been focusing in areas of manufacturing, R&D, operations, construction, corporate management, IT, production, HR, maintenance, body shop, sales and service, mechanical engineering, finance, marketing, design, customer support etc. We admit that the industry and its needs vary considerably. Hence, we have a specialized team of experts from a robust background and years of industry experience to ensure fulfilling these demands efficiently.