Abstract : Phases of the Indian Automobile Industry's growth have occurred over a period of more than two decades. Suzuki Corporation's entry into Indian passenger car manufacturing is frequently cited as the first sign that India is moving toward a market economy. Since then, the automobile industry has seen a steady rise in sales. Self-reliance in engine and component manufacturing emerged in the late 1990s from a position of a large-scale importer
There has been a steady increase in automobile production since 2016-17, according to data obtained from the Ministry of Commerce and Industry. April-December 2017 saw annual growth of 16.0%, compared to a 15.1% increase in 2016-17. Between 2013 and 2017, the CAGR (compound annual growth rate) for the automobile industry was 22%. MRF Ltd., a leading tyre manufacturer, has an impressive track record. Despite the recessionary winds blowing across the economy, the company has continued on its current path and is posting excellent results.
