Indian Business- Success stories Part 4
India is doing well despite all the odds we are facing in different areas for strange reasons. However, I can only say that if India is marching ahead, it's due to the private sector. Here are some examples-
Indian Car Market Growing Up at Crazy Speed
Indians are almost crazy about cars and we have almost every car brand manufactured anywhere in the world although Maruti Suzuki still remains the most popular brand in our country. I live in National Capital Region with largest number of cars and models in the country compared to other states. By the way, you can see latest model of any car brand within a month of its launch anywhere in the world in New Delhi and surrounding areas no matter how much does it cost.
New Delhi Organizes Auto Expo every alternate year in collaboration with Automotive Component Manufacturers Association, Indian Car Manufacturers the Indian Automobile Manufacturers Association and Confederation of Indian Industries. Auto Expo is perhaps the second largest car Expo slightly behind the one organized by Shanghai in China but attracts almost all the car manufacturers with best technology in different car segments. The last Auto Expo in Delhi brought almost 125 thousands car lovers daily to the venue.
Indians are not only car lovers but they love speed as well and ever since the F1 came to India in 2011 in Buddha International circuit, having the fastest of racing tracks in Greater Noida, an Industrial town in NCR region close to New Delhi. The Indians are buying cars in large numbers and if the increasing number of vehicle registered in Delhi is any proof you can find that in this statistics that number of four wheelers registered in 2015 in Delhi only has crossed 3 million units against a little over 2 million in 2010 so far and still counting despite the fact that the Delhi government has imposed a ban on 2000CC or more diesel cars with immediate effect.
Delhi and other metros of India have been organizing vintage car rallies for long time now. February 2015 saw a grand vintage car rally that took off with a 21 guns’ salute. There were 135 cars including a Rolls Royce 1912 model in that rally organized by 21 Gun Salute, the lavish retro dining spot that mainly serves Indian food and Heritage Motoring Club of India.
The Story of Indian Motorbikes
The story of two wheelers, which fascinated youth of this country in for long time, is very interesting is picking up at a fast rate. The story of Indian automobile especially the motorbikes begins from 1950 as the Indian Army and police needed more vehicles but then there were no auto manufacturers in India but we imported them from England and later began assembling them at Madras (Chennai).
The first motorbike assembled in India was Royal Enfield-350 CC that still remains one of the most prestigious brands in Indian market although lot sleeker and light weighted compared to original model. With arrival of Lembretta scooter in India the people that wanted something in lighter category which encouraged Vespa from Italy later as Bajaj in collaboration with Bajaj group became one of the most popular among Indian users.
After that many more brands introduced their brands namely, Yamaha, Honda, Hero with different Japanese groups and their own brands. But the real two wheeler story changed in the year 2000 with introduction of Pulsar by Bajaj group which is still the most preferred bike of Indian youth followed by Discover also from Bajaj group, Thunderbird by Royal Enfield, Gixxer by Suzuki, Activa by Honda etc and innumerous other brands by different manufacturers.
The famous British brand Triumph has launched its 1699 CC bike Cruiser for INR 1.6 million ($25,000+) and this is not the first bike of its kind in Indian market but Kawasaki, Harley Davidson, Ducati Honda, Benelli etc all have made their presence felt with Indian motorcycle lovers.
The Story of Indian Jewelry Market
Jewelry has always been the part of Indian society. The gold rate going constantly down India’s import is likely to reach 1,000 tons by the year end as the marriage and festive season increases the demand. We have solid proofs that Indians have been using gold, pearls, diamonds and other precious stones as jewelry and the Indian jewelry history dates back to 3000 BC.
Before going into detail of Indian society’ interest in Gold and jewelry one must know that India was divided into hundreds of different states and small kingdoms ruled by different dynasties as monarchies having entirely different cultures and tastes. Every single state had its own lifestyle as that reflected in their jewelry’s designs as well.
For instance, the jewelry in Punjab and J&K is different from Bihar and Bengal. The silver filigree work of Andhra and the jewelry of tribal Orissa are different from Rajasthan's enameling work. Uttar Pradesh is famous for Brass and German silver wares and Delhi area is known for pure gold jewelry.
Indian jewelry and precious stone is one of the fastest growing industries during last couple of decades. India imports tones of gold but exports jewelry to entire world market. According to the world gold council India is second largest importer of gold but Indian jewelry industry is playing a big role in growing its economy especially in earning foreign currency. As per the jewelry industry sources the Indian jewel and gem industry is expected to grow to the tune of $50 billion from current $35 Billion.
The Indian government has taken steps to encourage jewelry and precious stone industry that is already providing employment to almost 3 million people and is capable of adjusting 2 million more in next few years. At the present rate of growth the Indian Gem and Jewelry Industry is expected to double within 2-3 years. Overall the Indian gem and jewelry industry is contributing 5-7% to Indian gross domestic product.
According to the Associated Chambers of Commerce of India the branded jewelry market is growing at a considerable rate and has captured almost 20% market share and expected to reach to 30% by 2020. The online Indian jewelry business share at present worth $200 million is expected to grow at the rate of 50 to 60% per year.
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