April 2000 to December 2015 , |
India-based auto parts makers . |
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according to data released by |
Ÿ |
Mahindra Two Wheelers Limited |
Department of Industrial Policy and |
( MTWL ) acquired 51 per cent shares |
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Promotion ( DIPP ). |
in France-based Peugeot |
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Some of the major investments and |
Motorcycles ( PMTC ). |
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developments in the automobile sector in India are as follows :
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Japanese two-wheeler manufacturer Honda Motorcycle and Scooter India ( HMSI ) has opened its fourth and world ’ s largest scooter plant in Gujarat , set up to initially produce 600,000 scooters per annum to be scaled up to 1.2 million scooters per annum by midannounced
2016 .
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American car maker Ford has unveiled its iconic Ford Mustang in
India and will make its debut in second quarter of FY2016 within the price band of Rs 45 lakh ( US $
66,146 ) and Rs 50 lakh ( US $
73,496 ) in the Indian market .
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Nissan Motor Co . Ltd is in discussion with Government of India to bring electric and hybrid technologies to India as the government plans to reduce air pollution caused by vehicles .
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Global auto major Ford plans to manufacture in India two families of engines by 2017 , a 2.2 litre diesel engine codenamed Panther , and a
1.2 litre petrol engine codenamed
Dragon , which are expected to power 270,000 Ford vehicles globally .
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The world ’ s largest air bag suppliers
Autoliv Inc , Takata Corp , TRW
Automotive Inc and Toyoda Gosei
Co are setting up plants and increasing capacity in India .
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General Motors plans to invest US $
1 billion in India by 2020 , mainly to increase the capacity at the
Talegaon plant in Maharashtra from
130,000 units a year to 220,000 by
2025 .
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US-based car maker Chrysler has planned to invest Rs 3,500 crore
( US $ 513.5 million ) in Maharashtra , to manufacture Jeep Grand
Cherokee model .
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Mercedes Benz has decided to manufacture the GLA entry SUV in
India . The company has doubled its
India assembly capacity to 20,000 units per annum .
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Germany-based luxury car maker
Bayerische Motoren Werke AG ’ s
( BMW ) local unit has announced to procure components from seven
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plans to set up a
Government Initiatives
The Government of India encourages foreign investment in the automobile sector and allows 100 per cent FDI under the automatic route .
Some of the major initiatives taken by the
Government of India are :
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Mr Nitin Gadkari , Minister of Road
Transport , Highways & Shipping has separate independent Department for Transport , comprising of experts from the automobile sector to resolve issues such as those related to fuel technology , motor body specifications and fuel emissions , apart from exports .
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Government of India aims to make automobiles manufacturing the main driver of ‘ Make in India ’ initiative , as it expects passenger vehicles market to triple to 9.4 million units by 2026 , as highlighted in the Auto Mission Plan ( AMP )
2016-26 .
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In the Union budget of 2015-16 , the
Government has announced to provide credit of Rs 850,000 crore
( US $ 124.71 billion ) to farmers , which is expected to boost the tractors segment sales .
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The Government plans to promote eco-friendly cars in the country i . e .
CNG based vehicle , hybrid vehicle , and electric vehicle and also made mandatory of 5 per cent ethanol blending in petrol .
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The government has formulated a
Scheme for Faster Adoption and
Manufacturing of Electric and
Hybrid Vehicles in India , under the
National Electric Mobility Mission
2020 to encourage the progressive induction of reliable , affordable and efficient electric and hybrid vehicles in the country .
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The Automobile Mission Plan ( AMP ) for the period 2006 – 2016 , designed by the government is aimed at accelerating and sustaining growth in this sector . Also , the wellestablished Regulatory Framework under the Ministry of Shipping , Road
Transport and Highways , plays a part in providing a boost to this sector .
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