As per the information received from Society of Indian Automobile Manufacturers(SIAM),the following major multinational companies have entered the Indian market in the last three years:

 

The Government has approved the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components Industry in India to boost domestic manufacturing of Advanced Automotive Technology products and attract investments in the automotive manufacturing value chain with a budgetary outlay of Rs. 25,938 crores over a period of five years.

The automobile sector contributes about 35% to the manufacturing GDP of the country. Further, the Government has an estimate of India’s competitiveness at the global level in automobile sector.

India’s ranking in the world market in terms of Unit Production is mentioned below:

• 2 wheelers, 3 wheelers and Tractors -  # 1
• Passenger vehicle -  # 5
• Commercial vehicles - # 5

This information was given by the Minister of State for Heavy Industries Shri Krishan Pal Gurjarin a written reply in the Rajya Sabha today

 

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DJN/ TFK

(Release ID: 1782647)