The Automotive Mission Plan(AMP) of 2016-2026 aims at making India one of the three leading global automobile manufacturers. An annual revenue of $300 billion in 2026 is targeted. The AMP aims at contributing 13% to the GDP and a creation of 100 million additional jobs to name a few. Basic requirements to be met are safety, quality improvement and technological advancements. The Indian Government has already spent a bulk in this regard. Besides, a target of 7 million electric cars by 2020 with benefits for both consumers and manufacturers is set. Despite a large series of challenges, tax reforms in this sector by the government are a testimony to the fact that the mission is on the right track to be accomplished to a large extent. Read more at: http://www.forbesindia.com/
