BDB is Automotive Market Research

 

BDB India Private Limited is a leading global business strategy consulting and market research company in India. Since 1989, BDB has been providing clients with solutions to expand their businesses in the Indian and international marketplace. We are an ISO certified company. BDB India is the leading global business strategy consulting and market research firm for automotive industry. BDB is Automotive Market Research.view more…https://bdbipl.com/

The Indian Automotive Industry: Current Trends and Future Growth Prospects

One of the largest in the world, the Indian automobile sector is essential to the nation’s economic growth. More than 35 million people are employed by it, and it makes up around 7.1% of India’s GDP. This dynamic industry has experienced significant expansion, driven by rising consumer demand, advancements in technology, and encouraging governmental regulations. The Indian automobile sector, which is set to undergo substantial change over the next ten years, is examined here along with its present situation, new trends, and potential for expansion.

The Indian automobile industry as of 2024

India emerged as a major producer of automobiles, particularly compact cars, by the late 2000s. In addition to satisfying domestic demand, companies like Tata Motors, Mahindra, and Hyundai started exporting automobiles worldwide, enhancing India’s standing in the automotive supply chain. The Indian automobile industry saw a significant metamorphosis following liberalization, changing from a closed, state-run market to one that is now globally competitive and supported by both foreign investment and homegrown innovation. This change resulted in more car alternatives, higher production capacity, and a growth of India’s position as a global center for automotive manufacture.

As of 2024, the Indian auto industry is a vital component of the industrial sector and makes a substantial economic contribution. Its strong position is reflected in its worth, which has crossed ₹20 lakh crore. The sector directly affects India’s GDP, now contributing about 7.1%, and accounts for 14–15% of the country’s overall GST revenue.