Acting On The Counsel Of The Wise: Future Of Auto Consulting In India

It is expected that India will tower over its rivals in terms of the production of passenger vehicles by 2021. While great milestones have been achieved already, much more needs to be done in order to attain the target of production of 5 million. This depends on a large number of factors concerning the health and status of the economy.

Where does Auto Consulting come here?

A consultancy is a firm that specialises in all operations that enable the production company to engage in accurate estimates and enhance the profitability of the enterprise. As the definition itself suggests, it involves expertise and specialized consideration of a diverse array of areas pertaining to the business. As far as automobile consulting is concerned, specialized estimates need to be made with respect to the prospect of infrastructure building, the growth of consumer demand, the sustainability of the cost of production as well as consumer sustainability that takes into account the price of oil and diesel, etc. Besides, there are legal aspects that need to be pondered over carefully. These include the complications related to taxes and duties and ownership rules. Thus auto consulting takes into account all of these factors before arriving at an informed decision.

Like consulting firms that are related to finance, auto consulting firms give both creditors and investors a fair idea of the business climate in a particular economic area. Thus the feedback provided by them is held in high esteem and helps investors make an informed decision while consumers also rely on it for making a decision related to the transaction.

India's potential as an auto manufacturing hub

Various factors demarcated India as a region that shows strong potential for the growth of the auto sector. The developing middle class combined with sound government policies such as Automotive Mission Plan and National Electric Mobility Mission Plan will continue to attract investors here.

• In order to handle the pressure of rising costs that are incurred due to reliance on oil imports, the use of alternative fuels is being promoted by the government such as FAME-2. Electrification is expected to be extensively promoted and will show good results in terms of outreach by 2030. Apart from buses and passenger vehicles, the use of electrification will penetrate the domain of automobile components as well.
• In order to shift massively from single ownership, the growth of the shared mobility sector using state-of-the-art technology is also underway. Although the use of the app can penetration remains low in India, the steady growth of the millennial segment of the population and the coeval growth of urbanization will generate greater demand for shared mobility facilitators.
• The emphasis laid on infrastructure investment over the past few decades has indicated the government’s commitment to enhancing inter-region connectivity.

Overview and Prospects of Auto consulting in India

Although the industry shows enough promise in a country like India, there is stiff competition that India faces from its neighbours and other emerging markets as they have also started focussing on similar models of economic growth. Thus to provide manufacturers with a better edge, the requirement of sagacious consulting is a must. Manufacturers are beginning to realise the same. Thus, from a bird’s eye point of view, one would find consultancy services in the auto sector to be a mainstream engagement of major companies that have made a mark for themselves in fields such as Information Technology and finance.

Thus, it is always better to go slow and make an informed decision rather than acting in haste and ruin future possibilities. The tortoise that ultimately winds the race ultimately bears away the olive.