Indian auto industry in 2023: Finding the right opportunity

Abstract

The Next 5 years in the Indian automotive industry is going to be a period of flux with multiple challenges and opportunities. European and US auto companies are embracing the 4 major opportunities namely – Electrification of Drive train, Connected cars, Mobility as a service and autonomous vehicle. Apart from these product offerings, OEMs need to decide on adopting Industry 4.0 tools and applications. The drivers and barriers for these opportunities need to be identified to get a clearer picture of the Indian auto scene in the next 5 years. The experts were identified from a variety of companies including Indian OEMs, Foreign OEMs and Tier 1 Suppliers. The questions revolved around the one single opportunity that the company was focussing on, the challenges involved in modifying the innovation to the Indian context, challenges in developing the eco-system, new business models etc.