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Demystifying the Growth Story of Indian Passenger Car Industry

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Author(s): Utpal Chattopadhyay

Journal: International Journal of Trade, Economics and Finance
ISSN 2010-023X

Volume: 4;
Issue: 3;
Start page: 111;
Date: 2013;
Original page

Keywords: Automobile industry | global shift | india growth story | passenger car segment in India.

ABSTRACT
The last decade (2002 to 2012) has been quite remarkable for the Indian passenger car industry because during this period it made steady progress in all fronts, production, domestic sales and exports. The era also saw industry’s gradual ascent to global power. India now is the sixth largest producer of cars and one of the fastest growing automobile markets in the world. It is home to almost all major global automobile brands, which together contribute more than three-fourths of total production and domestic sales. The achievement of Indian industry is even more significant because it came at a time when the world automobile industry was grappling with crises. The paper identifies the major factors behind India’s spectacular success. India growth story was identified to be the key. Other important factors include global shift in automobile industry, favourable policies of Indian governments and positive role of supporting industries like auto components, financial sector etc.
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