There was a time, when owning a car was regarded as an esteem factor. During those times there were only two cars namely Ambassador and fiat padmini, somebody who owned any of the two cars was regarded as a rich and of power. Mostly government servants were provided ambassadors and military person were given fiat.
Gone are those day and India has now evolved to a great extent. After the liberalism of the Indian economy, India is now free to exchange good and services and can take part in Auto Parts Manufacturing which can then be exported to international market.
Immediately after liberalization. India opened its economy and became a world leader in the field of production and there is not a single big brand which is not associated with India. India is now one of the most significant players in the field of external as well as internal parts of the auto segment. According to a recent study when it comes to two wheelers India is ranked at 2nd place and in case of four wheelers India stands at the 4th place.
After seeing its progress, many investors have shown keen interest in setting up industries in India for much reason. There are many advantages of setting a manufacturing unit Indian. Following are few of them.
Cheap labour-India is a labour rich country therefore employing manpower works out to be cheaper than any other nation. Since there is a supply of manpower in huge number therefore the wage per hour is lesser in comparison to the west. This is one of the reasons why international players are interested in setting up industry and manufacturing plants here.
Cheap raw material-India is blessed with iron ores and steel plants therefore there is ready availability of raw material at a cheaper price. It also has other material such as oil fields and coal mines which helps in running the plants at a cheaper rate.
Expertise knowledge-As mentioned above India has no dearth of manpower, when we say manpower, they have abundant of expertise manpower that are educated and are able to follow directions and provide inputs in field of technology etc.
State of the art technology-India is blessed with engineers and technicians who are always willing to add on to the prevailing technology. Therefore are able to contribute to the production process and are able to provide valuable inputs in manufacturing unit.
Liberal rules and regulation-Keeping in mind the growing interest of foreign direct investment,. The government of India has made laws and regulation more liberal and have also declared tax holiday and opened technology parks which are exempted from tax.
Keeping in mind all the above points, Automobile Parts in India are very widely available as spare parts as well as used in assembly of large moving vehicles.