5- Fuller source of remuneration The agricultural sector is a major source of foreign exchange. Income imports of capital goods. Pakistan's total forex is $ 17.1 out of which 3million is share of agriculture. Pakistan's main cash crops are cotton, rice, tobacco, etc. It is helpful to correct the balance of payments.
The automobile industry is one of the fastest growing industries in India. It also one of the largest in the world. It is the sixth largest in the world in terms of passenger car and commercial vehicle manufacturing. This industry also helps to raise foreign currency by exports averagely 1.5 million vehicles every year. The increasing
Because of many people working in manufacturing, the economy of the USA has increased dramatically. Another famous industry that helps the economy of the USA is healthcare. At the end of 2013, this industry has bought $ 21.8 billion to the American government. Thanks to an aging population and rising incidence of chronic diseases, the sector continues to grow and is indeed growing faster than the rest of the market. Healthcare has brought many investors to invest in the USA.
The auto sector accounts for 4 per cent of the total FDI Inflows (in terms of US $) in India. According to the recent data released by Society of Indian Automobiles Manufacturers (SIAM) India’s scooter and motorcycle manufacturers have registered 4 per cent growth during April-November, 2012. The Global and Indian manufacturers are focusing their efforts to develop innovative products, technologies and supply chains. India is one of the key markets for Global Manufacturers for hybrid and electronic vehicles, which is the new development in automobile sector. With a turnover of almost $59 Million US Dollars, Automobile industry Provides employment to 13 million people in the India Work-class.
Main players of the Automobile industry are Toyota, General motors, Volkswagen, Honda, Ford and more. The Automobile Industry is very complex and to start a business in automobile industry high level of capital investment is required. Not only huge amount of money but also a labor force will be essential, which are the main barriers to enter into the automobile industry. For Example, the US auto industry was once considered safe until Honda Motors gave a big challenge to these companies by opening a manufacturing plant in Ohio. The Automobile industry includes many other industries as well for example, tires and seat manufacture.
Therefore the industry has contributed to rapid economic growth in China. Although exports of the electrical products from China have been remarkably and exports of them by the local firms also have been increasing after the however major exporters are still foreign-affiliated firms. In addition, we are here with growth of the Chinese and the Indian local firms against a backdrop of each native market, therefore we concentrate on the Chinese and the Indian markets not on overseas
These reconditioned import lots comprised of used cars that were reconditioned to the near-to-fresh conditioned and then resold in the markets by the car manufacturers at cheaper rates. For those car manufacturers, Less Developed Countries (LDCs) was a major market and Pakistan was a primary target with industry growth rates depicting lucrative trends. With big names such as Honda and Toyota selling their parts and reconditioned vehicle in the Pakistani markets, the automobile industry saw a boom. Industrial conditions however changed drastically following the global economic crunch of 2007-2008. The declining economic conditions globally and locally combined with internal political instability, increasing energy crisis, and rapidly devaluing Pakistani currency resulted in a paradigm shift in the dynamics of the Pakistani automotive industry.
End of Poverty: People of Pakistan will benefit directly from CPEC.CPEC will give Pakistani’s a chance of improving their lives as people will be given direct ownership of different projects that include industrial park projects, installation of nuclear reactors, construction of dams, garment industry and networks of roads and railways. People will also benefit from new hospitals, vocational training institutes, clean water and student exchange
Almost all global majors have set up their facilities in India. The automobile sector has been contributing its share to the shining economic performance of India in the recent years. With Indian middle class earning higher per capita income, more people are ready to own private vehicles including cars. To emerge as the world’s destination of choice for design and manufacture of automobiles and auto components, output is expected to reach a level of USD 145 Billion. It accounts for more than 10% of the GDP and it will provide an additional employment to 25 Million people by 2016.