New Delhi: The government has claimed that the country has become the seventh largest vehicle producing nation in the world, six years ahead of the set target.
According to Mr B S Meena, Secretary, Ministry of Heavy Industry, "When we were making the Auto Mission Plan (AMP) in 2006, we had projected India to become the seventh largest vehicle producing country in the world by 2016. We have already achieved this milestone good six years ahead of the set target."
Meena added during April-August 2009-10, the cumulative production of vehicles grew at 32.4 per cent over the year ago period. "The passenger vehicles, commercial vehicles and two-wheeler segments have all recorded impressive growth rates of 32 per cent, 49 per cent and 31 per cent, respectively, during this period," said Meena.
He further added that Indian passenger vehicle market is estimated to grow to 9 million units by 2020, while the two-wheeler market is likely to reach 30 million units. "The realisation of these volumes would position India as one of the top five vehicle producing countries in the world by 2020 with the domestic consumption growing by 4-folds to USD 120 billion," Meena said.
Furthermore, according to Society of Indian Automobile Manufacturers (SIAM), the country vehicle production has increased to 14.1 million units in 2009-10, a jump of over 25 per cent from 11.2 million units in the previous fiscal.
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