what is the importance of automobile industry in India ?
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The Indian automobile industry – comprising of the automobile and the automotive components segments – is one of the key drivers of economic growth of India. Being deeply integrated with other industrial sectors, it is a major driver of the manufacturing gross domestic product (GDP), exports, and employment.
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despite problem with overcapacityDespite problems with overcapacity and low profitability, the automotive industry retains strong influcence and importance. The automotive industry is a major industrial and economic force worldwide. It makes 60 million cars and trucks a year, and they are responsible for almost half the world's consumption of oil.
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