Impact of Make in India campaign on Auto sector

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The “Make in India” initiative taken by PM Narendra Modi is an aggressive ambition to renovate India into a manufacturing and technology hub. It has acquired substantial attention from the industry and turned the spotlight on the manufacturing sector.

Automotive has been recognized as a top priority under this program. The implications for the industry are as follows:

Boost to automotive FDI & R&D

• Facilitate investment and technology inflow
• Build best-in-class manufacturing infrastructure
• Promote R&D investment and protect intellectual property

Labor Law Reform

• Create new employment opportunities
• Focus on building technical skills

Infrastructure Development

• Boost domestic CV sales, and drive rural demand for vehicles
• Drive vehicle exports

The Government is taking steps to ensure that resources are used more efficiently, while bringing the better outcomes. As currently the country is 6th largest market in the world for automobiles and is expected to become the world's third-biggest car market by the year 2020.As per the Automotive Components Manufacturers Association of India (ACMA), the world standings for the Indian automobile sector are as follows:

• Largest tractor manufacturer
• Largest two wheeler manufacturer
• 2nd largest bus manufacturer
• 5th largest heavy truck manufacturer
• 6th largest car manufacturer
• 8th largest commercial vehicle manufacturer

The government of India aims to maintain this upward growth trend of the automobile industry and has launched several initiatives to achieve the same.

The Automotive Mission Plan 2016-26 (AMP 2026) is one such initiative, It aims to make India among the top three automotive industries in the world and increase exports exponentially to reach 35-40% of overall output.

Another initiative launched by the government was the Faster Adoption and Manufacturing of Hybrid and Electric (FAME) vehicles in India.

Shriram Automall India Limited (SAMIL), being the No.1 and Largest Used Vehicle & Equipment Provider in the country, while playing its part in the Make in India Initiative provide the used vehicles compliant with latest norms.

Visit your nearby Automall to participate in their innovative bidding platforms to acquire the used vehicle of your choice or click the link below for easy registration.

http://bit.ly/2c2UwQN