THE AUTOMOTIVE INDUSTRY is among the core sectors driving the Indian economy. As T per 2021 reports, the contribution of the automobile sector to the overall GDP of India stands at 7.1 percent and 49 percent of the manufacturing GDP, with an annual turnover of Rs 7.5 lakh crore and export of Rs 3.5 lakh crore. At present among the top five, the Indian automotive sector is expected to be the world's third-largest automotive market in terms of volume by 2026.
The sector has evolved significantly over the last four decades, especially in the past four to five years where it has witnessed a massive push for electric mobility. The government is aggressively promoting electric vehicle (EV) adoption, subsidies under the FAME-II scheme in India being some of the prominent ways of doing so. Simply put, the industry is transitioning for the better but not without the challenges.
Tech with a cause
We are living in one of the most disruptive and interesting times in the industry as the demand for mobility grows but paradoxically, this growth comes with challenges such as climate change, congested cities, and increasing safety concerns. We are in an era marked by a centurial shift due to growing sustainability issues and supported by emerging trends in electromobility, connectivity, digitisation, and automation, observed Kamal Bali, President and Managing Director, Volvo Group India.
While technology has disrupted every industry, in the case of the auto sector, the impact is directly on the future of a sustainable India.
هذه القصة مأخوذة من طبعة May 21, 2022 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 21, 2022 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
