If words of Union Minister Anant Geete are to be believed, the overall contribution of Indian auto sector in our gross domestic product shall go up from 7.1% this year to 12% in the next decade. There are no clouds of doubt on the statistical prediction as It was stated at the optimistic inauguration of test track facility provided by Global Automotive Research Centre, Chennai in lieu of increasing safety provision to Indian buyers. It is government approved under the Central Motor Vehicle Rules, 1989. It shall be official used for homologation and research and development over vehicular components.
It will also attract great automobile component wise investments from foreign car developers, the recent case being of Talbros which received a Rs. 750 crore investment by a German auto company for components export. Other bigger moves like a shift from BS III to BS IV automotive compliances, introduction of GST, aim to become all-electric vehicles driven transportation system by 2030, launch FAME scheme, coming of car majors like Tesla from America, SAIC from China, Kia from S. Korea, PSA from France and others to India with the perspective of profit generation, the aim doesn't count as an over statement.
