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IMPACT AND IMPLICATIONS OF COVID 19 PANDEMIC ON THEINDIAN AUTOMOBILE SECTOR

. Dr. Vishnu Prakash Mishra, Mr. Rahul Srivastava & Ms. Parminder Kaur Narula 1Associate Professor, United Institute of Management, Prayagraj 2Assistant Professor, United Institute of Management, Prayagraj 3Assistant Professor, Institute of Engineering


Abstract

The inception of liberalization policy in 1991 , has made the slow average growth rate of GDP of India jump to a higher level. Due liberalization policy many industries started flourishing including the automobile sector .The importance of automobile industry in India has been quite significant .It is one of the fastest growing sectors in India .The increase in the demand of cars and other vehicles has increased by the increase in the income .As a result the automotive industry in India has become fourth largest in the world ,as of 2019.Novel corona virus(COVID -19 ) pandemic emerged around the end of December 2019 at Wuhan ,Hubei province ,China. The Pandemic majorly effected   industries, including automotive sector.The global economic trade impact of pandemic on automotive industry is severe ,and Indian automotive sector will also get badly effected by it .This paper is a study of impact of Covid -19 pandemic on Indian automotive sector and will suggest ways of overcoming this critical situation.

KEYWORDS:Automotive industry, Covid -19 Pandemic, GDP ,Growth rate

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