Scenario Analysis and New Future Business Models for the Indian Automotive Industry

Abstract

The world's fastest expanding sector is the automotive industry, which is one of India's significant businesses because of its robust democracy and international partnerships. According to this circumstance, there is a growing need in India to expand the compact vehicle industry. India is now building the fifth-largest economy in the world, with a nominal GDP of $2.94 trillion dollars and a real GDP of $10.51 trillion dollars (PPP). The goal of the current analytical investigation was to produce inventory based on Porter's five forces model by analyzing the most recent updates and patterns. Due to economic and industrial reforms, the low energy consumption of the automotive sector has made it an appealing location for global automobile manufacturing, which is coupled with a rise in per capita and disposable income of the employed population. Nevertheless, the study finds that the Indian automotive industry's overall competitiveness in the present might be characterized as modest. As a result, with the backing of government measures, the anticipated growth rate in the next years and prospects in the patchy Indian market would decline significantly.