India’s Covid-hit auto sector is buzzing once again, thanks to massive pent-up demand and the emergence of a new class of buyers who want to avoid public transport because of pandemic fears. But experts are not sure if this signals a turnaround for the industry.
The Covid-19 pandemic, the government’s drive for self-reliance and the geopolitical risks of China have handed India’s automobile sector the opportunity to emerge as a global player in terms of both auto components and vehicle sales.
Maruti Suzuki has announced a partnership with the Indian Institute of Management Bangalore (IIM-B) to help start-ups working in technology-based innovations that can be applied in the mobility sector.
After the acquisition, JJ Impex shall become the wholly owned subsidiary of Maruti Suzuki. India’s top automaker Maruti Suzuki acquired Japan’s Sumitomo Corporation’s stake in their joint venture JJ Impex, a company engaged in automobile service and repair business. The company has approved a 49.13 per cent equity acquisition of JJ Impex from two Sumitomo companies – Sumitomo Corporation and Sumitomo Corporation India Pvt Ltd in Delhi-based JJ Impex. The transaction involves Maruti Suzuki picking up over 34.43 lakh shares [...]
India’s auto industry has arrived on the global stage but has to learn to adapt to go further.
With annual sales of over 20 million units, the Indian automobile industry is one of the largest in the world. It is the fourth largest market for cars behind China, US and Japan and trails only China in the global pecking order for two wheelers. It has also been one of the fastest growing automobile markets in the world at a time when there are fewer takers for cars around the world. Many believe India will emerge as the third largest market for cars as early as the turn of this decade.
The Indian automobile industry is making its presence felt globally with rising exports, multiple acquisitions and heightened exposure to overseas markets.
In February this year something very uncommon, if not unprecedented, happened in the Indian automotive industry. The country’s largest car maker, Maruti Suzuki India Ltd, exported a batch of 1,800 units of its latest premium compact car Baleno to its home market Japan. Export of cars from India have gained significant volumes and are growing fast but even then this tranche was of special relevance. It was the first time ever that Maruti, where Suzuki owns a majority 54 per cent, was exporting a model from its factories in India to parent Suzuki’s home country. Over the last decade...
Indian companies have been fairly active in the African continents, which offers the country an extremely lucrative market. Given China’s head-start in the region, India’s state-owned enterprise interest in Africa is long-overdue. Here are just some recent snapshots of the India-Africa story.