Role of Auto Industry in Nation Building
The automobile industry is the main driver of macroeconomic growth and advancements in developing and developed countries. India was the 5th largest automaker in the world in terms of value and volume. It is growing at a fast rate which is giving rise to a number of automotive Tubular Battery manufacturers in Rajasthan . The industry is contributing to many dimensions like creating economic development, generating government revenue, and fostering innovation and R & D. The expansion is leading to a multiplier effect for the economic development of India. Revenue Generation Tax revenues are generated from usage-related levies, vehicle sales, business, and income taxes. Production and sales of automotive vehicles deliver import duties, local taxes, value-added, and excise in almost all states of the country including Rajasthan. It is a state where the automotive industry is growing rapidly. Also, the industry takes advantage of globalization through export and generates forei...