Importance of automobile industry in india
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The Indian automobile industry had contributed to almost 7 per cent of the country’s GDP. During the time it provided 22 per cent of India’s manufacturing GDP and provided around 18 per cent of excise duties to the state exchequer. The Indian automobile industry has also significantly increased the presence of the nation in international markets with a year-on-year increase in exports of approximately 18 per cent.
While the above mentioned statistics have undoubtedly taken the country’s economy forward, the Indian automobile industry has indeed taken its people forward as well by creating nearly 19 million jobs in the country through both direct as well as indirect employment. The Indian automobile industry is responsible for employing 7 to 8 per cent of India’s total employed population as of 2013.
Automotive hubs across the country have given rise to ancillary industries engaged in manufacturing components for automobiles and more. This has resulted in the development of new urban settlements with civic amenities for healthcare and education, thereby bettering life style as well.
While the above mentioned statistics have undoubtedly taken the country’s economy forward, the Indian automobile industry has indeed taken its people forward as well by creating nearly 19 million jobs in the country through both direct as well as indirect employment. The Indian automobile industry is responsible for employing 7 to 8 per cent of India’s total employed population as of 2013.
Automotive hubs across the country have given rise to ancillary industries engaged in manufacturing components for automobiles and more. This has resulted in the development of new urban settlements with civic amenities for healthcare and education, thereby bettering life style as well.
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