Zee Media Bureau
New Delhi: The Indian automobile industry’s turnover in itself is equivalent to a robust 7.1 percent of the Indian GDP of approximately USD 2315 billion announced Pawan Goenka, Ex- President, SIAM and Executive Director & President- Mahindra & Mahindra.
Speaking at the 54th Annual Convention of Society of Indian Automobile Manufacturers (SIAM) he unveiled of the Review of the Annual Mission Plan Report, 2006-2016.
Prepared by the Ministry of Heavy Industries and Public Enterprises, Government of India in collaboration with the Indian Automotive Industry and released by the former Prime Minister of India, Dr. Manmohan Singh, the Automotive Mission Plan 2006-2016 was made as the blue print for the growth of the Indian Automotive Industry.
Unveiling the mid-term Review Report, Goenka, said, “Despite the two massive speed-breakers in 2008-09, 2012-13, the industry has made significant progress and many vehicle price increases have been contained within about 11% though the economy has witnessed an inflation of 77 percent over the past decade.”
The review report says that the Indian Automobile Industry accounts for 4.3 percent of the total exports, next only to the textile and handicraft industry in India.
