Join our Waitlist for Expert Advice!

Business Opportunities In Automotive Industry For Women Women have chartered their paths in primarily male-dominated automotive industries, sailing through flying colors successfully

By Franchise India Staff

This story originally appeared on Franchise India

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

graphicstock

In the 21st century India, women are invading corporate sectors like information technology, engineering, medicine, including the automotive sector. Women are starting their own automotive business or are getting hired by the workforce to work for their organization. The employment varies depending upon the nature of the company and work culture.

Why is this sector a good investment opportunity?

The industry includes diverse variants of automobiles like trucks, cars, motorcycles, etc. With the increase in diversification, a number of business opportunities and demand are expected to rise more, especially among the women entrepreneurs.

The automotive market is assumed to reach $17 billion by 2021, growing at a CAGR of 10-15 percent, having a potential to grow up to $300 billion in terms of revenue.

FDI in the automobile industry

Foreign Direct Investment (FDI) has caused the automobile sector to increase by 72 percent during 2014-2016. The automobile sector received US$729 million, which has increased scope for young entrepreneurs for shaping their business.

Further, invasion of international brands like ISUZU and Ford motors have invested heavily, establishing new assembly and manufacturing units. This is expected to boost the automobile industry, creating numerous opportunities for women entrepreneurs.

Government policies

Government's manufacturing policy framework is supposed to play a vital role in transforming the automotive industry. This is perhaps the best time for women to invest in this segment, pursuing their career and business goal.

The automotive sector is now being termed as a "sunrise sector' because of the following government policies:

  • The government's Automobile Mission Plan 2016 – 2026 envisages making India one of the top three automobile manufacturing centers in the world, potentially earning a gross revenue of US$300 billion by 2026.
  • Hybrid vehicles now attract excise duty at 12.5 percent and electric vehicles attract excise duty at 6 percent, as against the excise duty of 30 percent, 27 percent, 24 percent, and 12.5 percent applicable on vehicles with conventional fuel.

Thus, an automotive industry will be a boon for both male and female investors. Women, especially, will be looking to expand their reach more than ever, looking to dominate in the male dominant sector.

This article was originally published on Franchise India by Shahram Warsi.

Starting a Business

I Quit My Corporate Job to Start a Business. Here's How I Went From Having $35,000 Credit Card Debt to Making $4 Million.

Courtney Allen, founder and CEO of presentation design agency 16x9, "recklessly" left corporate life behind in 2015 to pursue entrepreneurship.

Business News

Google's CEO Says AI Is Now Responsible for 25% of 'All New Code' Created at the Company

Google CEO Sundar Pichai said engineers are moving faster because of AI.

Business News

A Billionaire Founder Admits He Had 'Horrible Habits' — Then He Started a Morning Routine That 'Transformed' His Life

Kind Snacks founder Daniel Lubetzky used to go to sleep at 2 a.m. and skip his morning workout.

Leadership

Why Great Leaders Embrace Broad Thinking — and How It Transforms Organizations

What leaders think they know can cause narrowed thinking, limiting the ability to solve complex problems.

Business News

Read the Memo Dropbox's CEO Wrote to Staff Announcing Layoffs, Cutting 20% of Workforce

Dropbox CEO Drew Houston announced the company was laying off more than 500 employees in a blog post on Wednesday.