Currently, India is the 5th largest car manufacturer in the world. India produced 4.51 million automobiles in 2019. Marginally ahead of India, is Germany, which manufactured 4.66 million vehicles. Within a few years, India will overtake Germany according to the rapid year-on-year growth of the Indian automobile industry. Talking at an event organized by The Indian Express, the Union Minister of Road Transport and Highways, Nitin Gadkari said, “India is going to become the number one manufacturing hub for auto in five years.”
Also read: Indian automobile industry has recovered from the pandamic according to the sales report!
Size of the Indian Automobile Industry
The official sales figures for November 2020 suggest, that total Indian automobile production was 2.29 million as compared to 2.25 million in November 2019. Out of these 1.88 million vehicles were sold domestically and around 4,00,000 were exported to other countries. The industry has recovered from the pandemic and…