The automotive industry designs, develops, manufactures, markets, and sells the world’s motor vehicles. More than a million motor vehicles, including cars and light trucks, will be produced globally in the future.

The global automotive industry is a highly diversified sector that comprises manufacturers, suppliers, dealers, retailers, original equipment manufacturers or OEMs, aftermarket parts manufacturers. Automobile and automotive parts and components manufacturers constitute a major chunk of the automotive industry throughout the world. This sector provides employment to a major chunk of the world’s human population. This industry not only provides millions of jobs for the population but also produces billions of dollars in terms of worldwide revenues.

The automotive industry started in India in the 1940s. Following economic liberalisation in India from 1991 and the gradual easing of restrictions on industry, India has seen a dynamic 17% annual growth in automobile production and a 30% annual growth in exports of automotive components and automobiles. India produces around 2 million automobiles presently.