April 2000 to December 2015, |
India-based auto parts makers. |
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according to data released by |
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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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