Bset Hub manufacturers in India
India is capable of becoming the lead in R & D activities. It has more than 30 automotive R&D centers. The Emphasis on R&D in India is making India a global leader in hub manufacturing for its innovation and technological advancements. The Indian companies have been stressing on the reduction of costs in order to find a strong foothold in the global market. But the Indian Automotive parts manufacturers in India need more focus on innovation. Innovation should be the ultimate driving force. Indian automobile companies are spending a large amount on R&D. The R&D processes in various companies include product design, virtual simulation, testing, advanced materials etc. The Indian automobile sector is expected to grow more and reach a turnover of $100 billion in revenue by 2020. The government of India has been an active support and promoter of R&D in India. The government of India has taken initiatives such as Automotive Mission Plan (2006-2016) which intended to make India the global hub in design and manufacturing of auto mobile, auto components and R&D test centers. India's mission to become a global player in automotive industry and R&D has been well accomplished.
In the year 2009, India became the 4th largest exporter of passenger cars. And in the year 2010, the world saw India manufacturing 40 billion passenger vehicles. In the 1980s, multi-national companies were allowed to invest in the Indian market. And in the year 1991, many foreign companies initiated joint-ventures with the Indian companies and this gave birth to the variety of choices for consumers to choose from. By the year 2000, there were 12 large automotive companies in the Indian Market and the taxes encouraged companies to do the assembling of cars in India instead of importing them as completely built units.
The Indian automobile export market has also seen rapid growth and changes in the recent years. India became the lead in the manufacture of small cars. Some of the companies like Bajaj Auto, Ashok Leyland etc are manufacturers of small cars which are now a rage in the Indian market. Some of the electric car manufacturers in India are Ajanta group, Mahindra, Tata Motors, Hero Electric etc. The government of India has focused on building local infrastructure and also gives encourages industries by providing incentives and a 10 percentage refund of land cost upon the completion of projects on time. Automobile industry in India has grown at a rapid pace and is emerging as a Global leader. The support provided by the government is making the industries develop and run efficiently. No doubt, India is just one step back in becoming a developed nation. For more info visit:- http://www.suyeshgroup.com
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