Since the last few years, Indian automobile industry has grown at a tremendous pace, and currently the Indian automotive components industry is being projected to cross over US $ 110 billion (INR 5 lakh crore) worth business by the year 2020. This figure has been zeroed in after assessing the demands of vehicles, as it is in tandem with the country’s growth of vehicle production. According to the report by the Automotive Component Manufacturers’ Association (ACMA), out of all this, the domestic turnover is likely to grow up to US $ 80 billion (INR 4 lakh crore) and the exports would make up to another US $ 29 billion (INR 1.4 lakh crore).According to that report, in the fiscal year 2010 – 2011, the turnover of auto components companies India will go beyond USD 26 billion, which is an 18 per cent rise from the previous fiscal year’s turnover, which was just USD 22 billion. Moreover, according to the ACMA-EY (Ernst & Young) Vision 2020 study, most probably, by the year 2020 India is going to witness massive growth in the vehicle production.As far as Europe is concerned, it is likely to comprise a huge 36.9 per cent of India’s automotive parts export in 2010-11, which is then followed by the Asia and North America with 28.1 and 24 percent respectively. Apart from this, the automobile industry has witnessed major changes in the automobile purchasing strategy India over the few years. According to the recent study, in the financial year 2010 – 2011 India is expected to make USD 12 billion investments in the Indian automotive components industry. And, this might result in making the auto component industry, an engine for India’s massive growth in the economic as well as manufacturing segment.Moreover, the Automotive Mission Plan (AMP) 2006 – 2016 will additionally stimulate the progress of the Indian auto components sector and can eventually transform India into an international player in the automotive industry. This plan aims to double the contribution of automobile industry in the country’s GDP and produce 25 million more jobs for people by 2016. Apart from this, there is an enormous potential and intensification opportunity in the automotive components industry and as a result various small medium enterprises which are into the manufacturing of automotive parts in India have also started to get good international exposure for their products. Moreover, out of those small and medium enterprises of automobile components and accessories, many of them have become the best auto parts supplier Chennai, Pune, Gurgaon.
Local entrepreneurs often spend most of their time focused on a limited market, but with the simple act of broadening one’s geographic horizons via the Internet, a wealth of opportunity suddenly opens up. Internet marketing strategies are important to local entrepreneurs for several reasons.First, marketing on the Internet results in an expanded client base since knowledge of your business is now available worldwide. If you stay strictly local, only those within your vicinity will be aware of your existence, which severely limits your client base.Second, with the implementation of successful Internet marketing strategies, you will be visible to others all around the world who are in the exact same business that you are. Perhaps they will be your competitors, perhaps your allies; whatever the case, you’re certain to learn from one another. Networking with other entrepreneurs is a way to ramp up your own success efforts, attracting even more business than you could before.Third, local entrepreneurs can’t stay local for long in this technological age. Investing in tried and proven Internet marketing strategies can help local entrepreneurs vie with competitors who have already developed a solid Web presence. Such an investment can also help businesses adapt more quickly to the unexpected.Fourth, many people question the validity of a business that doesn’t market itself on the Web. Even those who enjoy buying from entrepreneurs local to their area may appreciate the opportunity to do so through the Internet from the comfort of their own home. Giving them this option can play a tremendous factor in business growth.The fifth and final reason why local entrepreneurs should master Internet marketing strategies is that everyone else is doing it. That might seem like a silly reason, but businesses are required to exhaust every marketing opportunity available in order to keep up with their rivals. If your competition is marketing on the Internet but you aren’t, you’re going to be left behind. Even if you weren’t planning on converting completely to Internet marketing strategies, all local entrepreneurs should consider developing some form of Web presence in order to stay relevant.The bottom line is that local entrepreneurs must be able to think locally but act globally. The internet allows even the smallest micro business to that. By providing unlimited and unfettered access to the world’s markets, the internet changes everything. Fluctuations or downturns in the local economy are irrelevant to local entrepreneurs who have established a global footprint online. Even if local economic conditions are in tatters, somewhere else on this huge planet are people with money who want to spend it. By putting the local entrepreneur in touch with this dynamic global marketplace, the internet changes the entire equation.Again however, it doesn’t happen automatically, and it’s not necessarily easy to master. Internet marketing strategies change at the speed of light-what worked last week may not work tomorrow-and the evolution is constant. In order to deploy workable internet marketing strategies, the local entrepreneur must become a student of the process. Learn as much as you can, and keep learning. It’s essential to your long term success.