Find in Library

Automobile industry is a symbol of technical marvel by human kind. The automobile industry referred as “the industry of industries” around the world has continuously invented and reinvented itself, always driven by innovation. During the last two decades, the automobile industry has been a bright spot in India’s progress and has become one of the largest manufacturing sectors in India. During the past few years, the production and management systems in the Indian automobile industry have been revolutionized. One of the major changes in the industry has been the opening up and growth of several emerging markets. The delicensing of the sector and the subsequent opening up of 100 per cent Foreign Direct Investment (FDI) through the automatic route marked the beginning of a new era for the Indian automobile industry. However, the industry is now facing new and pressing challenges. Globalisation, digitalisation, changing consumer preferences and increasing competition are changing the face of the industry. The purpose of this paper is to present a short overview of the automobile industry in India and mention challenges facing the industry. In this context, several strategic steps have been discussed which will enable the automobile firms in India to enhance their competitiveness and establish a strong foothold in the international market.