project report on automobile industry
PESTLE Analysis is a simple, useful and widely-used tool that helps you understand the "big picture" of your Political, Economic, Socio-Cultural and Technological, Legal and Environmental aspects. As such, it is used by business leaders worldwide to build their vision of the future.
PESTLE analysis is concerned with the environmental influences on a business. Identifying PESTLE influences is a useful way of summarizing the external environment in which a business operates. However, it must be followed up by consideration of how a business should respond to these influences.
It is important for these reasons:
First, by making effective use of PESTLE Analysis, you ensure that what you are doing is aligned positively with the powerful forces of change that are affecting our world. By taking advantage of change, you are much more likely to be successful than if your activities oppose it;
Second, good use of PESTLE Analysis helps you avoid taking action that is doomed to failure from the outset, for reasons beyond your control; and
Third, PESTLE is useful when you start operating in a new country or region. Use of PESTLE helps you break free of unconscious assumptions, and helps you quickly adapt to the realities of the new environment.
PESTLE Analysis of Automobile Sector
In 2002, the Indian government formulated an auto policy that aimed at promoting integrated, phased, enduring and self-sustained growth of the Indian automotive industry
Allows automatic approval for foreign equity investment up to 100% in the automotive sector and does not lay down any minimum investment criteria.
Formulation of an appropriate auto fuel policy to ensure availability of adequate amount of appropriate fuel to meet emission norms
Confirms the government’s intention on harmonizing the regulatory standards with the rest of the world
Indian government auto policy aimed at promoting an