Automobile industry is one of fastest growing industries in india

Undoubtedly, Indian Automobile Industry is one of the largest and fastest growing industries across the globe. As per the recent figures, India manufactures over 17.5 million vehicles every year, which includes 2 wheeled and 4 wheeled vehicles and exports somewhere around 2.33 million vehicles every year. India has become world's second largest manufacturer of motorcycles. India is also considered as a champion in passenger car and commercial vehicle manufacturing industry, as in this stream, we are the seventh largest in the world and as reports are coming in the market, India is almost set to overtake Brazil to become the sixth largest passenger vehicle producer in the world. After Japan, South Korea, and Thailand, India has emerged as Asia's fourth largest exporter of passenger cars.

Now, if we talk about year 2010, India has produced more then 40 million passenger vehicles and 3.7 million automobile vehicles, witnessing a growth rate of 33.9%, which apparently has helped our country to become the second fastest growing automobile market in the world. Now,for the car sales, India has set the target: more then 5 million by 2015 and more then 9 million by 2020. Once India would acquire this goal, our nation is expected to lead the world in terms of car volumes with approximately 611 million vehicles on the country's roads.

Apart from above mentioned facts and figures, if we go through with the journey of Indian automobiles ,starting from the day when the first car introduced on the streets of Mumbai in 1898, the Indian automobile industry has demonstrated a sensational growth to this day. In today's modern and technology equipped era, the Indian automobile industry comes up with a galaxy of varieties and models, meeting all possible needs, expectations and globally established industry standards. Here are some honchos of Indian automobile industry:
Maruti Suzuki
Tata Motors
Mahindra and Mahindra
Hyundai Motors
Hero Honda and
Hindustan Motors and the likes.
At the initial stages of its development, Indian automobile industry was majorly depended on foreign technologies. Although, over the years, the Indian manufacturers have started using their own technology evolved in the native soil. As we all know that India has a developed and thriving market place, this apparently encourages a number of automobile manufacturers including some of the big and reputed global brands to set their business in our country.
Although, India has also gone through with a temporary setback of the global economic recession, but now the Indian automobile market has once again geared up a pronominal momentum witnessing a remarkable sale of automotive vehicles and it's auto parts.