The Changing Paradigm in the Indian Automotive Industry and Emerging Trends

India became the fourth largest automobile market in the world, surpassing Germany in 2018 and it is estimated that by the end of 2021, it will move up to the third position globally. This industry also accounts for around 22% of the nation’s manufacturing GDP. Several factors, including the ‘Make in India’ initiative of the Indian government, are playing a crucial role in further growth and expansion of the industry. Currently, five megatrends are observed in the Indian automotive industry and they are expected to have a great impact on its future transformation. 

1. Customer expectations are evolving rapidly as their product awareness is increasing rapidly and they are becoming digitally savvy. Today, customer needs are changing and are playing a huge role in shaping the automotive ecosystem of the country. A bifurcating purchase pattern between economical and luxury vehicles is being observed. This is forcing the industry to align and deliver accordingly in the coming future. 

2. Disruptive technological advancements are affecting the industry at three different levels. Firstly, vehicles of the future are going to be electric, driverless and connected with smart technology such as remote diagnostics, geofencing, real-time vehicle tracking and smart sensors. Secondly, industry operations and supply chain are getting digitised due to the introduction of IoT, augmented reality and robotics. Thirdly, new business models such as vehicle sharing are coming up. 

3. The dynamic regulatory environment in India is leading to a shift in this industry. The government has introduced some regulatory interventions (eg. GST) and is planning to introduce more vehicle-related standards in the near future. These are demanding new technical skill sets and advanced vehicular technology. 

4. Mobility infrastructure is changing rapidly with the introduction of alternative modes of mobility including autonomous vehicles and ride-sharing services. A major transformation is in progress in the industry as smart cities, EV (electric vehicles) charging infrastructure and AI-driven traffic lights are coming up. 

5. Global trends are further influencing the Indian automotive industry, leading to its paradigm shift. International automotive industries are quite interconnected, which is leading to mutual growth and evolution. 

Industrial development and the above-mentioned emerging megatrends are further leading to the creation of new jobs and career opportunities. However, job seekers in the nation may not possess the technical skill sets required by these newly created job profiles. 

ASDC (Automotive Skills Development Council) is an authorised body recognised by the Government of India, which is working towards bridging this skill gap by introducing skill development training programmes and certifications. The courses are custom designed as per the requirement of each job profile and include hands-on training along with theory classes. Aspiring candidates of the nation may enrol in courses such as Automotive Sales Training, Product Conceptualisation Engineer Training, Prototyping Manager Training, etc. offered by ASDC to secure an exciting job in this booming industry. 

The Bottom Line 

The automotive industry is one of the most rapidly expanding industries of India. The industry is contributing majorly in the development of the nation and building a decent career in this industry can ensure a promising future for a professional.