The automobile industry in the country is one of the key sectors of the economy in terms of the employment opportunities that it offers. The industry directly employs close to around 0.2 million people and indirectly employs around 10 million people.The prospects of the industry also have a bearing on the auto-component industry which is also a major sector in the Indian economy directly employing 0.25 million people.
All is not well with the automobile industry the world over currently with the slowdown that has gripped most of the major economies of the world. The gap between the manufacturing capacity volume and the assembly volume is growing by the day and has worried the manufacturers.
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This state of affairs has triggered a lot of cutthroat competition and consolidation in the industry. Cost reduction initiatives have come to be the in thing in the global industry today. Towards this direction, many
automobile factories are being closed down.
The Indian automobile industry is a stark contrast to the global industry due to many of the characteristics, which are peculiar to India. The Indian automobile industry is very small in comparison to the global industry. Except for two-wheelers and tractors segments, the Indian industry cannot boast of big volumes vis-à-vis global numbers.
SCOPE OF PROJECT
The scope of the project is to identify the premier players in the auto-component industry and to make a comparative analysis of their financial positions as well as future prospects.
OBJECTIVES OF PROJECT
To do a comparative analysis of the premier players in an auto-component market.