What is the importance of automobile industry? Examine the impact of liberalisation on it.
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Impact of liberalisation on automobile industry in India are: (i) Automobiles provide vehicles for quick transport of goods services, and passengers. (ii) This industry had experienced a quantum jump in less than 15 years. (iii) Foreign direct investment brought in new technology and aligned the industry with global developments. (iv) Now you have any latest automobile vehicle launched in any part of the world, simultaneously it is launched in India also. (v) After liberalisation, the coming in of new and contemporary models stimulated the demand for vehicles in the market, which led to the healthy growth of the industry including passenger cars, two and three wheeler.
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