BRIEFING: India's developing automotive markets and industry
India is an emerging country with huge potential. The domestic economy is now growing at around 7% per annum and India's growing importance in global terms is being reinforced by rapidly rising exports. India's low cost but highly skilled manufacturing base means that the country is also taking centre stage as a favoured location for global outsourcing. The automotive industry is at the centre of India's new global dynamic. The domestic market is expanding rapidly as incomes rise and consumer credit becomes more widely available. Manufacturers' product lines are being continually expanded, as is the local automotive manufacturing base. Expectations are high that India can develop as a global hub for small car manufacture and as an outsourcing centre that offers the global automotive industry solutions high up the automotive value chain. Dave Leggett visited India's Auto Expo in New Delhi last month and met with leading industry participants. This exclusive just-auto members' management briefing reviews the current status of and future prospects for India's automotive industry.
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