Industry Snapshot
The automobile industry in India is one of the largest as well as fastest growing automobile industries in the world. In recent years, India has become a major auto hub and emerged as an important global manufacturing base for automobile companies as it provides low cost production opportunities along with an added advantage of having a well trained workforce at competitive costs. Numerous global automotive giants are upbeat about their expansion plans in India and are willing to enter into partnerships with domestic companies to produce automobiles.
During 2010-11, the Indian automotive industry registered a total turnover of US$ 73 billion, with exports worth US$ 11 billion. Of this, the turnover by the auto component sector stood at US$ 30 billion, with exports valued at US$ 5 billion. The sector is expected to witness high levels of growth on account of drivers such as low level of vehicle penetration, growth of the economy, the demographic profile of the country, increasing wages and salaries, and huge investments being made by the government in the infrastructure sector. It is forecasted that the Indian auto component industry has the potential reach a turnover level of US$ 66.4 billion by 2016 and US$ 113 billion by 2020, signifying a fourfold increase over a period of ten years.
Talent Challenges
The industry's highly competitive environment translates into a strong demand for senior management who can successfully steer companies through challenging times. The industry requires change management skills as well as an ability to create innovative middle and long-term strategies. However the availability of skilled manpower is gradually beginning to fall short of the industry’s requirements and this could have an impact on the future growth trends.
ABC's Perspective
At ABC we have been addressing mandates in the areas of Research and Development, manufacturing, construction, operations, information technology, corporate management, human resources, production, body shop, maintenance, mechanical engineering, sales and service, marketing, finance, customer care, design, etc. We understand the industry and its requirements very comprehensively and our team of consultants with a robust background of the industry across the different levels of the value chain ensures that we work on these mandates very efficiently.