My Summer Internship Report
CHAPTER 1 INTRODUCTION 1.1 BACKGROUND OF THE STUDY
India is undergoing unprecedented change. It is one of the fastest-growing large economies in the world, with a population of around one billion people, with huge human and natural resources, and with costs that are at the very low end of the global average. India has its dominance in the IT industry with this being a base for almost all the leading IT companies in the world. India’s large English-speaking population certainly enhances it as an attractive business destination. India represents an economic opportunity on a massive scale, both as a global base and as a domestic market. India is the world’s seventh-largest country in terms of area, with a majority of the population living in rural areas. Reaching this fragmented and dispersed market significantly increases the complexity of distribution for companies in India. But according to some companies, addressing potential consumers is perfectly feasible. Indian consumers are becoming increasingly sophisticated and knowledgeable about products; media channels that allow companies to communicate with consumers are growing in diversity and reach. Consumers are getting richer, leading to competition in the market-place for consumer products. The result is that consumer companies are increasingly concerned with marketing issues, as they seek to differentiate their products and communicate their values to potential customers. The Indian automotive industry has emerged as a 'sunrise sector' in the Indian economy. India is emerging as one of the world's fastest growing passenger car markets and second largest two wheeler manufacturer. It is also home for the largest motor cycle manufacturer and fifth largest commercial vehicle manufacturer. The amount of cumulative foreign direct investment (FDI) inflow into the automobile industry during April 2000 to January 2013 was worth US$ 7,653 million, amounting to 4 per cent of the total FDI inflows (in terms of US$), as per
India is undergoing unprecedented change. It is one of the fastest-growing large economies in the world, with a population of around one billion people, with huge human and natural resources, and with costs that are at the very low end of the global average. India has its dominance in the IT industry with this being a base for almost all the leading IT companies in the world. India’s large English-speaking population certainly enhances it as an attractive business destination. India represents an economic opportunity on a massive scale, both as a global base and as a domestic market. India is the world’s seventh-largest country in terms of area, with a majority of the population living in rural areas. Reaching this fragmented and dispersed market significantly increases the complexity of distribution for companies in India. But according to some companies, addressing potential consumers is perfectly feasible. Indian consumers are becoming increasingly sophisticated and knowledgeable about products; media channels that allow companies to communicate with consumers are growing in diversity and reach. Consumers are getting richer, leading to competition in the market-place for consumer products. The result is that consumer companies are increasingly concerned with marketing issues, as they seek to differentiate their products and communicate their values to potential customers. The Indian automotive industry has emerged as a 'sunrise sector' in the Indian economy. India is emerging as one of the world's fastest growing passenger car markets and second largest two wheeler manufacturer. It is also home for the largest motor cycle manufacturer and fifth largest commercial vehicle manufacturer. The amount of cumulative foreign direct investment (FDI) inflow into the automobile industry during April 2000 to January 2013 was worth US$ 7,653 million, amounting to 4 per cent of the total FDI inflows (in terms of US$), as per