Driven by steady population growth and rising income, milk consumption continues to rise in India. Dairy market is currently growing at an annual growth rate of around 7 per cent in volume terms. Indians use milk in various preparations such as in brewing tea and coffee, in making yogurt or curd and in preparing many Indian dishes.
Tariff and duties on the import and export of tires were set less so that cheaper tires and material could be imported and good quality tires can be exported.
On the other hand imports of tires from other countries are showing the supporting political environment. The economy of was emerging and the total production of vehicles more than doubled between and so it had a good potential for the industry.
Basically inthe first tire was made by a British company Dunlop, and followers of Dunlop were other three foreign companies: Now there are about 40 companies in India producing 70 million tires.
Changes in trends bring a positive or negative demand for a product. In India, the major part of population is youth and in previous years, as the income level of people increases so they starts buying two wheeler bikes and as population increases and people start expending geographically so transportation demand also increases so people start spending on automobiles industry.
People in India prefer to buy low price tires like cross-ply tires as it is cheaper and more convenient on uncomfortable roads of India. But as the economy is growing, and improvement in road quality also influencing people to buy radial. There are two technologies of tires in India, which are Cross-ply and Radial tires.
IN cross-ply technology, the textile and metal cords are braided diagonally, while in radial tires, textile and steel cords are braided at 90 degrees. Cross-ply are more successful in India due to its compatibility with the roads of India, its long life as compared to radial and due to price.
There is also a price war between companies and every company tries to reduce its cost by getting low cost input or by bringing some kind of new technology. After scanning the market with the help of PEST, we come to know that Government is supporting the Indian tire industry and there is a strong industry of tires in India which bring hurdle for the other new industry to invest in India.
But as the country is in developing stage, so people and infrastructure of the country is not so strong, so people like to have low cost tire that are compatible with the roads of India. So for that there is still needed to have new technology.Lucintel, a leading global management consulting and market research firm, has analyzed the political, economic, social, technological, legal, and environmental factors of India, and has come up with a comprehensive research report “PESTLE Analysis of India ”.
SWOT and PESTEL are analytical tools that help identify the key external and internal factors that should be taken into account in order to achieve success in a project or initiative. Indian FMCG Industry Analysis.
FMCG Industry in India. Indian FMCG Industry in India Industry Report (November, ) (Size: MB) Indian FMCG Industry in India Industry Report (October, ) (Size: MB) Click to access the FMCG Industry in India Industry Archived Report.
Pest Analysis of Indian Tyre Industry Essay The PEST analysis is a useful tool for understanding market growth or decline, and as such the position, potential and direction for a business. PEST is an acronym for Political, Economic, Social and Technological factors, which .
PESTEL analysis tool helps in determining the effect of all such factors on an industry and businesses. With the help of PESTEL analysis we will be seeing the affects of such factors on Indian Bakery and Dairy Industry. Given below is the SWOT analysis of dairy farming business: Strengths.
The vast livestock population of the country could prove to be a vital asset for the country and unlike many other natural resources which will deplete over the years, a sustainable livestock production system will continue to propel Indian economy.