The Indian automotive industry is one of the largest in the world, and has emerged as the 3rd largest in Asia behind Japan and South Korea. The automobile industry accounts for 7.1 per cent of the country's gross domestic product (GDP).
The industry has received a further boost with various auto makers making heavy investments in various segments in the past few months. The Government of India encourages foreign investment in the automobile sector, and allows 100 per cent FDI under the automatic route. As a result, the industry received FDI worth US$ 13.48 billion during the period April 2000 to June 2015, as per the statistics of Department of Industrial Policy and Promotion (DIPP).
With the Make in India campaign of the government, the automobile industry has indeed accelerated in its revival and growth.
The upcoming cars of 2015-2016:
The Indian automotive industry is one of the largest in the world, and has emerged as the 3rd largest in Asia behind Japan and South Korea. The automobile industry accounts for 7.1 per cent of the country's gross domestic product (GDP).
The industry has received a further boost with various auto makers making heavy investments in various segments in the past few months. The Government of India encourages foreign investment in the automobile sector, and allows 100 per cent FDI under the automatic route. As a result, the industry received FDI worth US$ 13.48 billion during the period April 2000 to June 2015, as per the statistics of Department of Industrial Policy and Promotion (DIPP).
With the Make in India campaign of the government, the automobile industry has indeed accelerated in its revival and growth.
The upcoming cars of 2015-2016: