2 min read.Updated: 15 Jun 2021, 06:04 PM ISTBrand Post
To meet this demand, the industry needs quality raw materials and funding.
India's auto industry is currently valued at $118 bn and is expected to be the world's third-largest automotive market in terms of volume by 2026. The sector manufactures presently 26mn vehicles, including Passenger Vehicles, Commercial Vehicles, Three-wheelers, Two-wheelers and Quadricycles. As companies are all geared up to increase their production, the sector is expected to account for 65 million new jobs within India. The automotive industry also benefits from global supply-chain rebalancing, government incentives to increase exports, and technology disruptions. These developments will help create opportunities at all levels of the automotive value chain.