India's automobile industry is set to miss the ambitious targets set in the Automotive Mission Plan for 2006-16 by a significant margin on account of slowing global demand and a sluggish domestic market.
The government and industry are working on more realistic targets for the next 10 years, which will become a part of the Narendra Modi government's 'Make in India' initiative.
The AMP, announced in 2006, sought to make India an international hub for designing and manufacturing of automobil ..
India, the largest exporter of small cars, also lost out in the global markets. Its share of purchases in Europe, its largest export market, shrank from 35% to 16% over the past decade.
However, the two-wheeler segment scaled new heights as India became the second-largest manufacturer producer of motorcycles globally. India clocked fifth position in the commercial vehicle market globally.
The government and industry are working on more realistic targets for the next 10 years, which will become a part of the Narendra Modi government's 'Make in India' initiative.
The AMP, announced in 2006, sought to make India an international hub for designing and manufacturing of automobil ..
India, the largest exporter of small cars, also lost out in the global markets. Its share of purchases in Europe, its largest export market, shrank from 35% to 16% over the past decade.
However, the two-wheeler segment scaled new heights as India became the second-largest manufacturer producer of motorcycles globally. India clocked fifth position in the commercial vehicle market globally.
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