how indian automobile industry has helped to reduce development cost of their products
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Since the first car rolled out on the streets of Mumbai (then Bombay) in 1898, the Automobile Industry of India has come a long way. During its early stages the auto industry was overlooked by the then Government and the policies were also not favorable. The liberalization policy and various tax relief’s by the Govt. of India in recent years has made remarkable impacts on Indian Automobile Industry. Indian auto industry, which is currently growing at the pace of around 18 % per annum, has become a hot destination for global auto players like Volvo, Genneral motors.
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Providing cheap labor
India is the repository of employment capital and the raw elements which are used in the manufacturing process. It contributes to contemptible labor to the automobile manufacturers which consequently help in cross-cutting production cost.
All the factors pertaining to the cost of raw material and labor commonly improves when there is the advantage of enormous wealth and massive pieces of machinery are employed. While rendering labors and raw substance at a considerably cheap cost, the production cost automatically decreases eventually.
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