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Essay text:
The industry
is providing direct and indirect employment to 1.31 crore people. It is also making a
contribution of 17% to the kitty of indirect taxes. The export in automotive sector has
grown on an average CAGR of 30% per year for the last five years. The export
earnings from this sector are 4.08 billion USD out of which the share of auto
component sector 1.8 billion USD.
2. Even with this rapid growth, the Indian Automotive Industry's contribution in
global terms is very low. This is evident from the fact that even though passenger and
commercial vehicles have crossed the production figure of 1...
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