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Promising Future for India’s Automotive Industry Through 2021 by BizVibe

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LONDON—India’s automotive industry is growing at a rapid pace, with innovation being key for automobile manufacturers to keep up with changing consumer preferences and increasing issues related to safety, population density, and the environment. Details on this promising market and its changing nature are some of this week’s top stories on BizVibe.

BizVibe is the world’s smartest B2B marketplace and allows users to discover high-quality leads, contact prospects, and source quotes in real time and users can now use BizVibe's chatbot to create new business opportunities daily, without the hassle of researching for new leads.

India’s Automotive Components Market is Booming

The market is currently valued at over USD 44 billion, and is continuing to grow rapidly thanks to demand from both domestic and international consumers. India’s location near major markets such as Japan and Korea has made it a major destination for manufacturers and buyers alike.

India’s fast-growing economy also plays a role in encouraging the growth of the automotive components market in the country. India has quickly become a leading manufacturing location for small capacity diesel and petrol engines, and as well as engine- and transmission-related automotive components. Additionally, the country has become a major manufacturer of small cars: more than 30% of all small cars sold globally have been manufactured in India.

Connect with over 3,000 automobile components and spares parts companies in India listed on BizVibe.

Microcars Increasing in Popularity in India’s Automotive Industry

To combat issues related to traffic and pollution, Indian car manufacturers are increasingly developing advanced and sophisticated microcars that can navigate population-dense urban areas with greater safety and ease than conventional full-sized cars. Microcars use less fuel, take up less parking and road space, and are typically sold as a substantially lower cost than full-sized cars, making them particularly appealing to price-sensitive consumers in India’s urban areas.

India is one of the leaders for microcars in APAC. Though the majority of the demand for microcars produced in India is domestic, consumers United States and Europe have begun to import hybrid and electric microcars from India due to their low costs compared to full-sized hybrid and electric vehicles available in other markets.

Connect with over 110,000 automotive companies around the world listed on BizVibe.

In addition to automotive companies in India, BizVibe is home to over 7 million companies across a variety of industries. The BizVibe platform allows you to discover the highest quality leads and make meaningful connections with your companies of interest in real time. Claim your company profile for free and let BizVibe connect you with potential business partners. For mobile users, don’t forget to connect on-the-go via BizVibe’s mobile app. To Make things as simple as possible, use the BizVibe chatbot to create new business opportunities.

About BizVibe

The single-minded focus of BizVibe’s platform is to make networking easier. Over the years, we've searched far and wide to figure out how businesses connect and enable trade. That first interaction is usually fraught with the uncertainty of finding a potential partner vs. a potential nightmare. With this in mind, we designed an online b2b platform with a robust set of tools to help companies generate leads, shortlist prospects, network with businesses from around the world and trade seamlessly.

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