The automotive sector donates about 7% of India’s GDP. Yet India took 7 years to increase the annual production rate to 4 million from 3 million. Research suggests that in another 5 years or more target of 5 million could be achieved.
The automotive industry depends on trends setting the world and its impact on the Indian economy could suggest rapid development of gradually improving imperatives for winning the market. These days various automotive industries such as Kenda Tyres, Apollo Tyres, Yokohama Tyres, etc. are manufacturing different types of tyres.
Factors for shaping the automotive market
Trends that are specific to India but not relevant globally may induce global leaders to take specific decisions that are linked with India only. But those which are prominent internationally are benevolent to come first. So India should adopt international trends in the future so that it becomes easier for leaders to go with the “Make In India” movement.
The Government Plan
The government hopes to give this sector a big boost with measures taken by officials.
Have you heard of the NEMMP programme? Through NEMMP or National Electric Mobility Mission Plan the government seeks to achieve the following things:
1. Facilitate long term growth in the industry
2. Reduce oil dependence and carbon emissions
According to the New Mission Plan 2026, the government and industry set a target of achieving triple the revenue as of now. It means that the government is likely to achieve $300 billion in total revenues.
To achieve number 2, the government seeks to cope with global standards outsourcing local ones. They need to bring the locals standards up to the mark of international standards enabling India to have a jump from BS-4 to BS-6.
Status of India on international backgrounds
The future of automotive technology is safe in India as newer technologies will be adopted in near future. The World Economic Forum ranks India 30th in the global manufacturing index. The government's decision on “Make in India” has made the country’s image higher in the ranking system.
The Bad Side
The recent electrical revolution of the automotive industry has prompted market leaders to reinvestigate the matter as lots and lots of mechanical engineering involvement is going to reduce in this sector.
Jobs are going to get reduced as lots of machine learning equipment are going to be imported. Top companies have reported that they are going to be completely electrical by 2020.
Due to this change, the market may get disrupted and lots of youth could get jobless if they don’t have the required skill.
India’s electric vehicle market has just taken off. Passenger electric vehicles electrified were 732 but in the year 2017-2018 the number reached higher to 1732 units. This may clarify that global companies are eager to import electrified technologies and advanced methods of manufacturing so that investment becomes less and output goes higher.
Fewer imports of oil could increase the country’s revenue by at least 33%. Less dependency on oil imports could help the country go completely oil-free.
Profit is much higher in densely populated cities like Delhi. Reports suggest that Delhi and Mumbai alone can topple car imports which is equal to a number more than the whole of China.
The concept of Hackable Cars
Hacking cars is not a new concept. Probably you would have seen this in Hollywood movies and it is true. Originally cars have a Windows OS that can be easily hacked by experts. Professional hackers can enter into the car systems and open the security settings and debug it completely to get full car access. This is quite tough in the case of Tesla cars as they prefer Apple car OS.
So it is natural that your car can get hacked and used for illegitimate purposes.
The software needs to be embedded into the system to render complex processes in the hardware of the car.
Cars are improving the life of drivers without a hassle and improve driving sensibility so that lesser accidents take place in roads.
Artificial intelligence and Machine Learning have a great impact on the future of the automotive industry. Vehicles are becoming like IoT devices that can connect with smartphones and render voice commands.
Self-driving technology has the key to the future of the automotive industry. No drivers are needed anymore in public taxis. In CES 2019 self-driving cars made a grand entry into the industry and made a bigger vision for the world that something great is coming.