The Indian Auto Mobile is witness to curious occurrence:-
The Automobile industry in India is the seventh largest in the world with an annual production of over 2.6 million units in 2009. In 2009, India emerged as Asia’s fourth largest exporter of automobiles, behind Japan, South korea and Thiland. By 2050, the country is expected to top the world in car volumes with approximately 611 million vehicles on the nation’s roads. Following economic liberalization in India in 1991, the Indian automobile industry has demonstrated sustained growth as a result of increased competitiveness and relaxed restrictions. Several Indian manufacturer’s such as tata motors, Maruti Suzuki and Mahindra and Mahindra, expended their domestic and international operations. India’s robust economic growth led to the further expension of its domestic automobile market which attracted significant India-specific investment by multinational automobile manufacturers. In February 2009, monthly sales of passenger cars in India exceeded 100,000 units. Embryonic automotive industry emerged in India in the 1940s. Following the independence, in 1947, the Government of india and thr private sector lanched efforts to cerate an Automotive component manufacturing industry to supply to the automobile industry. However, the growth was relatively slow in the 1950’smand 1960’s due to nationalization and the license raj which hampered the Indian private sector. After 1970, the automotive industry started to growth, but the growth was started to growth, but the growth was mainly driven by tractors, commercial vehicles and scooters. Cars were still a major luxury. Japanese manufacturers entered the Indian market ultimately leading to the establishment of Maruti udyog. A number of foreign firms initiated joint ventures with Indian companies. In 1960’s a number of Japanese manufactures launched joint-ventures for...
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