Today, Indian manufacturing companies in several sectors are targeting global markets and are becoming formidable global competitors has emerged as one of the high growth sectors in India. Many are already amongst the most competitive in their sectors.
Indo-kosovo Chamber of Commerce would like to share some fact and figures of manufacturing industry.
Automotive: India is expected to become a major automobile manufacturing hub and the third largest market for automobiles by 2020, according to a report published by Deloitte. India is currently the seventh-largest automobiles producer in the world with an average annual production of 17.5 million vehicles, and is on way to become the fourth largest automotive market by volume, by 2015.Engineering: The Indian
Engineering sector has witnessed a remarkable growth over the last few years driven by increased investments in infrastructure and industrial production. The engineering sector, being closely associated with the manufacturing and infrastructure sectors of the economy, is of strategic importance to India’s economy. Growth in the sector is driven by various sub-sectors such as infrastructure, power, steel, automotives, oil & gas, consumer durables etc.
Top Manufacturing companies in India – Amul, bajaj Auto, Hindustan Unilever limited, godrej group, Dabour india limited, TVS motors, larsen & turbo.
The Gross Value Added (GVA) at basic constant (2011-12) prices from the manufacturing sector in India grew 7.9 per cent year-on-year in 2016-17, as per the first revised estimates of annual national income published by the Government of India. Under the Make in India initiative, the Government of India aims to increase the share of the manufacturing sector to the gross domestic product (GDP) to 25 per cent by 2022, from 16 per cent, and to create 100 million new jobs by 2022. Business conditions in the Indian manufacturing sector continue to remain positive.