The Indian auto industry has emerged as one of the world’s largest, with annual sales of 19.8 million vehicles recorded in FY15, an Ernst & Young study.
It produced 23.4 million vehicles during the period. With this kind of growth, passenger vehicle density is expected to become 1.5 times by 2020.
Some of the major factors that would take for India to become a world-class auto manufacturing hub, including a stable and supportive regulatory environment and initiatives to improve the ease of doing business. Advancement of BS VI norms, likely rollout of the `End of life’ policy, Road Transport and Safety Bill, international safety standards from 2017 etc are the other factors, it added.
Contributed By Sonia Narula