2019, Vol. 2, Issue 1

author(s)
Sudarshan Kumar

abstract
Automobile industry is the key driver of any growing economy and plays a pivotal role in country's rapid economic and industrial development. It caters to the requirement of equipment for basic industries like steel, non-ferrous metals, fertilizers, refineries, petrochemicals, shipping, textiles, plastics, glass, rubber, capital equipment’s, logistics, paper, cement, sugar, etc. It facilitates the improvement in various infrastructure facilities like power, rail and road transport. Due to its deep forward and backward linkages with several key segments of the economy, the car industry has a powerful multiplier effect on a country's development and is therefore capable of driving economic growth. It performs a major catalytic part in, on the one side, building the shipping industry and, on the other, helping the industrial sector to develop quicker and thus create important possibilities for jobs. In India, automotive is one of the biggest sectors with remarkable growth over the years and has contributed considerably to the country's general economic development. Two wheelers, three wheelers, commercial vehicles and personal cars are part of the automotive industry.