Automobile and Auto-Component

Spurred by a huge demand from the market, the increase in production is set to improve further driven by a buoyant economy, with increasing purchasing power, new product launches, coupled with attractive finance schemes from automobile manufacturers and financial institutions. Researches show that the Indian auto industry has grown at an impressive 16.82 per cent over the last year with total sales of vehicles reaching around 10 million vehicles till November 2006 as against 8.5 million in 2005. The world’s top car makers turn to India for the nuts and bolts of their vehicles. Riding this success, and capitalizing on the spiraling demand of domestic auto companies, the Indian automobile components industry has emerged as one of India’s fastest growing manufacturing sectors, and a globally competitive one.