Since last 3 months, the price of commodities is increasing day by day. It’s an ongoing process. The main reason for the rises of commodity prices is a shortage of supply. Due to a new strain of covid19, some government bodies put restrictions on transport. This inflation directly impacted on manufacturing industry, automobile industry, aviation industry, consumer durable industry, etc. This will lead to an increase in the cost of production and the price of its products. Some Indian automobile industry has now set a strategic plan for 2021, which is the launching of new innovative vehicles in India like electronic cars, luxurious cars, etc. After April 2021, Airbag is a must in the cars for the safety purpose.
Due to inflation in commodity market already some motor company have raised their price of the vehicles. As per the report total, 23 electronic vehicles will launch in 2021 and 2022. The price range will be from 8,00,000 rupees to 1.5 Crore rupees. India, China and the USA are large markets for the automobile industry. If the electronic vehicles are launched in India then it will grab the Indian market in future. It will also create an impact on the oil industry. Some petroleum association bodies are trying to find some solution to the future crisis. Popularity and importance of crude oil will decrease in future. Now India is on 5th position in producing most vehicles After China, USA, Japan and Germany. In 2019 India produced 4.5 million vehicles. Currently, all over India, there are a total of 34 automotive manufacture. The export destination of the Indian automobile industry in the USA, Mexico, South Africa, United Kingdom, Sri Lanka, Bangladesh, Turkey, United Arab Emirates, Nigeria, Columbia, etc. We hope that the next 2 years or more are very beneficial for the Indian automotive industry.
Written By: Vishal Vervalkar