|Published : 17 Apr 2017, 18:53:25 | Updated : 17 Apr 2017, 18:59:19|
India is world’s largest motorcycle market
Sales of motorcycles and scooters in India in the financial year (FY), 2016, stood at 16 million, a global media report said.
The number, it stated, is far more than in any other country and nearly six times the number of passenger cars sold.
Exports during the same period, the report added, reached 2.5m, up from 1.5m five years before.
In chime with the Indian government efforts to burnish the country’s credentials as a manufacturing centre, a number of companies in the sector are endeavouring to use appropriate technology to tune product and component design of lightweight motorcycle, the report said.
The peers in the sector provide here some encouraging examples, the report noted.
Quoting relevant analysts, it said the presence of more women in the labour force, coupled with a relaxation of conservative norms around female behaviour and weakening of traditional obligations to the extended family, has helped drive a boom in sales of scooters, popular with female drivers and also young salary earners.
Through the sector was heavily affected by New Delhi’s abrupt decision in November last to withdraw 86 per cent of the country’s currency by value, industry executives express little concern about any end to India’s love affair with the motorcycle, the report stated.