Indian auto industry is gaining momentum everyday and now the Government of India is planning to have a specialised body to govern the industry with a view on sustainable growth. According to the Union Minister for Heavy Industries and Public Enterprises, Vilasrao Deshmukh, the body will act as a catalyst for the sustainable growth of the automobile industry. He stated that the final timeline to set up the governing body has not been finalised but it will be formed in next six months. It will be called as the National Automotive Authority of India.
The size of Indian auto industry is currently $90 billion and will soon cross $100 billion. As per report sales of passenger vehicles segment in April to July 2010 grew at 33.78% over same period last year. Passenger cars grew by 34.62%, utility vehicles grew by 23.87% and multipurpose vehicles grew by 43.96% in April to July 2010 over same period last year. Deshmukh said that the government will take necessary steps to regulate the growth.
Former Indian President, APJ Abdul Kalam Azad was addressing the 50th anniversary celebration of ACMA, where he lauded the resilience of Indian auto industry. "Auto industry is one of the most important drivers of India's economic growth. It has shown great resilience during the recent global economic crisis,” said Kalam.
