Ipsos White-Paper Parking Sensor Market in India.Pdf

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Report on Parking Sensor Market in India

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Macroeconomic and Auto Sector Overview The economy of India is the tenth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP). Its GDP is expected to grow at an average rate of 6% over the next 5 years. This combined with the fact that India has a bellowing working population, indicates that India’s automotive sector is well-positioned for growth servicing both domestic demand and, increasingly, export opportunities. Rising prosperity, easier access to finance and increasing affordability will also propel four-wheelers sale volumes. India’s passenger car and commercial vehicle manufacturing industry is the sixth largest in the world, with an annual production of more than 3.9 million units in 2011. In 2009, India also emerged as Asia's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand. With a Rs 12,000 crore capacity expansion in 2013 by major Auto players on developing new products and diesel engine manufacturing facilities, India is all set to become a global automobile super power. The majority of India's car manufacturing industry is based around three clusters in the south, west and north. The southern cluster

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