The Booming Industry Is Automotive Industry

Introduction:

The industry that has been in a stimulating situation and facing new challenges because of the rapid changes taking place during the last decades are the automotive industry. The auto industry is taking a new form rapidly. 

Advancement and improvements

During the last decade, many international auto manufacturers, either by themselves or in partnership with Indian companies, have started manufacturing activities in India. The industries which add support and do the furnishing works have also grown one after the other. 

The quality of yield in little scale and medium scale industries has ameliorated to such an extent that they started selling and shipping products to international manufacturers. The major breakthrough of recent years is the unveiling of "Nano" by Tata Motors during the auto expo 2007. 

This has received worldwide attention and proved that India can not only design an automobile of international standards but also execute the project at a much lower cost through innovative choice of components, materials, engine design etc. thus the automotive industry are booming higher and higher as years passes by. 

Every year two to three million people are awaited to buy new vehicles. Thousands of vehicles and parts are expected to be exported to both developed and developing nations. So as to accomplish these goals, it is crucial that the present GDP (Gross Domestic Product) growth rate, which is more than 8 per cent, continues to remain at the same level for the next 8-10 years. 

The government authority is also giving some grants to the automotive industry. To realize the above growth forecasting’s, it is significant to overcome various disputes the industry is facing currently. Two of the foremost challenges are the spiraling cost of fuel and the paucity of highly skilled manpower.

Challenges faced by automotive industry

There are thousands and thousands of challenges faced by the auto industry every day in every year. Among all of the challenges the most important two challenges are rising of price of oil and human resources. 

Rising of oil price: 

International price of petroleum oil has crossed US$ 120 per barrel and is rising at an alarming rate. The rise in oil prices will impact the development of automotive industry. If the use of alternative fuels increases, it is very improbable that the situation will change for the better.

Human resources:

The second challenge which is of great importance is the creation of highly skilled human resource demanded for the auto industry. Auto industry, like many other industries is facing severe shortage of skilled technical as well as managerial manpower. 

This challenge becomes all the more intimidating because mistakes lie at a more rudimentary level of training infrastructure and the social perception.

Conclusion

To get into conclusion with the automotive industry the final thing to remember is that there should be mechanisms in place that will assure that there is a balance in the pool of human resources comprising research scientists, engineers, technicians, designers, managers, and skilled and semiskilled workers.