How To Start Auto & Mechanical Industry
No matter which country we talk about, its automotive industry is an integral point. The production of automobiles is simply a very big deal. It is a large contributor in the economic and industrial growth of any country. Our country, as a matter of fact, is a very sound producer of vehicles. In turn, the sound production is supporting various other money making machines of the country as well. It is not just the production of full-fledged vehicles that is a matter of concern, but the components, either big or small, is all an important part of the automobile industry.
The world of automobiles comprises of passenger cars be it light or medium and the heavy commercial vehicles. It also includes the multi-utility vehicles, for instance jeeps, scooters, bikes, three-wheelers and also tractors. Other components such as engine parts, transmission and drive components and all the other small or big doohickeys that get a vehicle running are a part of the automobile industry.
India is no slouch when it comes to producing automobiles. As of now, it is worth almost 34 million dollars and is expected to touch 145 billion dollars within the next decade. The growth of the Indian automobile industry is practically on fire. The sales are touching the sky, breaking previous records with every passing second. This trade is growing by almost 15 percent every year. India ranks second when it comes to worldwide manufacturing of two-wheelers. It is the fifth largest manufacturer of commercial vehicles and the fourth largest producer of passenger cars in all of Asia. The biggest giants in this sector include Tata, Mahindra, General Motors India and Hyundai Motors India, Maruti, Ashok Leyland, Bajaj, Daewoo Motor India, Hero Honda, Ford, Fiat. Many other names are also a part of this list.
When it comes to the production and supply of automobile components, then India is worth almost 10 billion dollars. As make in India is on the rise, the production of components is souring like never before. The industry is in so much heat right now, it is almost impossible to breathe. Business gurus are predicting even more interesting times for the Indian automobile industry in the future. Various firms such as Bharat Forge, Sundaram Fasteners, Minda Industries and Gabrial India Ltd. Are at the top of their growth curves at the moment. Thanks to the robust economy and the heavy demand, the Indian auto component industry is blooming brighter than the season’s first flowers. If a new comer manages to enter this particularly hot market, the potential of money making is off the charts. Entry, of course, is not a very difficult process, as after delicensing, the picture of component manufacturing has changed completely. The end consumers are in huge numbers and everyone is looking for a cheaper alternative. At times like these, any newbie with some knowledge, foresight and a substantial capital can jump on to this money making band wagon. This industry is not going to slow down any time soon.