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The automobile industry in the country is one of the key sectors of the
economy in terms of the employment opportunities that it offers. The industry
directly employees close to around 0.2 million people and indirectly employs
around 10 million people. The prospects of the industry also has a bearing on the
auto-component industry which is also a major sector in the Indian economy
directly employing 0.25 million people
All is not well with the automobile industry the world over currently with
the slow down that has gripped most of the major economies of the world. The
gap between the manufacturing capacity volume and the assembly volume is
growing by the day and has worried the manufacturers. This state of affairs has
triggered a lot of cutthroat competition and consolidation in the industry. Cost
reduction initiatives have come to be the in thing in the global industry today.
Towards this direction, many automobile factories are being closed down