The current status of the Indian automobile sector has seen exponential development in new technologies and also in consumer acceptances. India jumped from 7th rank (2019) to 5th rank in (2020) and yet now showing a gradual growth graph in 2021.
With Changes in laws, and social awareness people are driven towards E-vehicles which create minimal pollution and are efficient at the same time. The Ministry of Heavy Industries, Government of India has shortlisted 11 cities in the country for the introduction of EVs in their public transport systems and will also set up incubation centers for start-ups working in the EVs space. EV sales, excluding E-rickshaws, in India witnessed a growth of 20% and reached 1.56 lakh units in FY20 driven by two-wheelers. In January 2021, Tesla, the electric car maker, set up an R&D center in Bengaluru and registered its subsidiary as Tesla India Motors and Energy Private Limited.
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In order to keep up with the growing demand, several automakers have started investing heavily in various segments of the industry during the last few months. The industry has approved Foreign Direct Investment (FDI) which acts to encourage the ongoing start-ups and also attract foreign investors to set up their market in India.
In the coming years, India will become an investment hub for automobile industries irrelevant of nationality. It’s more of a time to gracefully select this opportunity and proceed with this business venture rather than just waiting for other trends to emerge.
We provide a complete guideline to the foreign clients entering in Indian business market. With a strong handholding with planning, implementation, and the best possible advice, Team Pruvisor makes it easier for you to understand the Indian market.
PruVisor Management Consulting is a research-based Management Consulting Firm providing end-to-end business research and strategic consulting services, and support to our Indian and International Clients. PruVisor Management Consulting is a group of professionals with a rich experience of decades in the field of Business/Market Research & Strategic Consulting across diverse industry verticals. Over the decade, PruVisor’s core team members have collaborated with leading Indian and International clients in solving their most analytical and complex business problems, assisting them in making enhanced business decisions, transforming actions into results and building a strategic business advantage.
Business Management Consulting firms can help foreign companies set up offices or companies based on their ambitions and desired growth in the Indian market. Smaller companies can start a Liaison office to explore prospects in India. For companies wanting to expand aggressively within the Asian markets, incorporating an LLC or Joint venture would make sense. Business Consulting Firms in India like PruVisor can help firms review the latest regulations, perform due diligence in finding the right partners, creating business strategy plan, and deal with operational issues such as labor laws, connectivity, and state-specific regulations
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Want a trusted partner who can help you with your India entry strategy? PruVisor Management Consulting can help you with investment research, consulting, and assistance in regulatory compliance. Our belief in service excellence has helped foreign firms enter the Indian market successfully.
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