• 25-27 November 2021
  • Bombay Exhibition Centre (NESCO), WEH, Mumbai

Auto sector to play a major role in India’s economic growth

Automobile industry in India is a great boon for the MSME sector, which is a big employment generator. It is also an important sector driving growth in the Indian economy. As per reports, MSME share of value-addition to a car is 35 per cent. Further, the automotive aftermarket provides economic opportunities to thousands of MSMEs.

As ‘Atmanirbhar Bharat’ and ‘Make in India’ gains momentum, auto industry in India sets a correct example for boosting domestic manufacturing and bringing back the lost growth. Presently, auto industry contributes 6.4 per cent to GDP, around 35 per cent to manufacturing GDP, supports over 8 million jobs directly (OEMs, suppliers and dealers) and as many as 30 million more in the value chain, according to reports.

It accounts for cumulative investments of $35 billion over last 10 years, and generates export revenue of $27 billion that is nearly 8 per cent of the total merchandise exports from India.

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