Wednesday, 2 August 2017

Automobile sector's contribution to GDP

Automotive Mission Plan 2026 is aimed at bringing the Indian Automotive Industry among the top three of the world in engineering, manufacture and exports of vehicles & components; growing in value to over 12% of India GDP during the next decade.

            As per information shared by Society of Indian Automobile Manufacturers (SIAM), Year-wise detail of the growth in contribution of the automobile industry to India’s GDP during the last three years is under:

Calculation based on GDP at Factor cost (base year 2004-05)
Calculation based on Gross Value added (GVA) at basic Prices (base year 2011-12)
Indicator
2014-15
Indicator
2014-15
2015-16
2016-17
Auto Industry turnover (base price 2004-05)
4,419
Auto Industry turnover (base price 2004-05)
5,562
6,123
6,604
GDP at factor cost 2004-15
61,483
GDP at factor cost 2004-15
97,190
104,910
111,850
Contribution to National output
7.2%
Contribution of National output
5.7%
5.8%
5.9%

            Government of India had announced the Make in India policy in 2014 and automotive industry was one of the key industries identified under the scheme.  Since the launch of the scheme, huge investments have taken place in capacity building, R&D etc.

            This information was given by Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri Babul Supriyo in reply to a written question in the Rajya Sabha today.


Courtesy: pib.nic.in

No comments:

Paryatan Parv- Festival of Festivals 14th Day Of Paryatan Parv Celebrated Across The Country

Tourism itself is all about celebration and Paryatan Parv celebrates tourism across the country during the festive season. Paryatan Parv, ...