What is the role of automobile industry in the economic development of India?

With the liberalization of the economy, the automobile sector witnessed robust growth. The established manufacturers were phased out and the sector witnesses the entry of new manufacturers with state- of-the-art technology. This provided confidence to manufacturers to face international competition. Competition in the market along with safety regulations on emissions have led to improvement in standards.

The automobile industry consists of passenger cars, multi-utility vehicles, commercial vehicles two wheelers and three wheelers.

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