A Descriptive Study of Profitability Analysis of Automobile Industry In India (Special Reference to Mahindra & Mahindra Company)
Year: 2024
Type: article
Abstract: Automobile industry is the key driver of any growing economy and plays a pivotal role in country’s rapid economic and industrial development. It caters to the requirement of equipment for basic industries like steel, non-ferrous metals, fertilizers, refineries, petrochemicals, shipping, textiles, plastics, glass, rubber, capital equipment, logistics, paper, cement, sugar etc. it facilitates the improvement in various infrastructure facilities like power, rail and road transport. The Indian automobile industry has been recording tremendous growth over the years and has emerged as a major contributor to India’s Gross Domestic Product. The industry currently accounts for almost 7 per cent of the country’s GDP and employs about 19 million people both directly and indirectly. According to the Automotive Mission Plan 2016-26, with Government’s backing and special focus on exports, the automotive sector’s contribution to the GDP is expected to reach in double figures up to 2016. It is important to know that how this growing sector is affecting the financial performance of companies under this sector.
Source: Innovative Research Thoughts
Authors: Dr. S. S. Jadhav, Jai Prakash
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4408636039