India - A Global Manufacturing HUB |
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The Automotive IndustryAccording to the 2002-03 Economic Survey published by the Ministry of Finance,5 India is well on its way to being one of the world's major automobile manufacturing hubs. Over the past decade, since the automotive industry was deregulated and opened to private participation in 1995, the industry has witnessed tremendous changes, especially in the cars segment, with several global players such as Hyundai, GM, Ford, Peugot, Mitsubishi, Honda and Fiat entering the market.
In December 2002, UK-based automaker MG Rover Group6 signed an agreement with Tata Motors to sell Tata's highly successful Indica model, with some modifications in the design and engine, in the UK and in Europe. Indica was sold under the City Rover brand name by MG Rover. This was the first time that an Indian car was being sourced by a global automaker...
4] Vidya Viswanathan, "Hardware's Rs 75,000 crore Opportunity," Business Today, February 29, 2004. |
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