The Indian car market is the second fastest growing one in the world today. This is due to the large Indian middle class that keeps waiting for and buying the upcoming cars in India.
In the early 1990’s, when the Indian government started the economic liberalization policy, it was difficult to imagine that it would turn out to be an important event in the history of the country. Since then the whole economy of India has undergone a sea-change. Now almost every sector of the economy is growing. Some industries, however, have outperformed others. One such industry is information technology. Since the liberalization of the economy, India has emerged as a major power in the information technology industry. Many Indian IT companies have a businesses worth millions of dollars. The young Indian workers are benefited by the outsourcing of work to India from Western countries.
A lot of companies have started to operate out of India as they offer some distinct advantages. These include low labor cost and presence of the well educated, English-speaking middle class.
Another industry that has done quite well for last few years, is the auto industry. Almost all global auto makers have their presence in the Indian market. General Motors, Chevrolet, Ford, Hyundai, Honda, Mercedes, Rolls Royce, Audi, BMW, Volkswagen, Skoda, Nissan, etc have made their presence in the Indian car market. Several of them also have their manufacturing units in the country. They are taking advantage of the country’s cheap labor cost and liberal policies. It is also helping the Indian market a lot. The Indian government is earning lots of revenue, and the Indian people are getting jobs. Indirectly, this economic activity is resulting in job creation.
As the auto market is getting competitive, car makers keep launching new products every other week. It is also resulting in more options for car buyers in the country. The upcoming cars in India include Chevrolet Beat, Fiat Bravo, Audi A5, Nissan 370Z, Skoda Yeti, Volkswagen Polo, Hyundai i30, Nissan March, etc.