Word: indias
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...total of 350,000 cars will be exported from India this year, 30% more than were exported in 2008. As factory output grows, India's economy as a whole will get a boost, says Abdul Majeed, who heads the auto practice at PricewaterhouseCoopers in Chennai. Currently, the auto sector accounts less than 1% of India's gross domestic product, says Majeed, compared with 3.5% in China and 4.5% for the world as a whole. Economists say the automaking could account for 10% of India...
...India's government has been encouraging automakers to build cars in India to avoid high import levies of up to 120% and to minimize production costs. Volkswagen, for example, plans to increase sourcing parts locally from 50% currently to 80% in the next two years, according to Joerg Mueller, head of the German carmaker's India group. (Watch TIME's video "Owning a Nano, the World's Cheapest...
...buyers worldwide shift away from gas-guzzlers to smaller vehicles, India appears destined to become a hub for manufacturing small cars for export, says Shekhar Vishwanathan, deputy managing director for Toyota in India. Toyota has designed a new small car for India, which is slated to start rolling out of the Japanese giant's plant at Bidadi on the outskirts of Bangalore by the end of 2011. Toyota plans to eventually export the car to South Africa and other developing markets...
...some are concerned about the impact on the environment as millions of new drivers try to merge with India's already overtaxed road networks. "There have been concerns," says Darius Lam, assistant editor at Autocar Professional, a Mumbai-based trade publication. But the latest generation of vehicles will meet the latest European emission standards, and India's "road infrastructure is being rapidly improved to accommodate the new fleet," Lam says. At the moment, nothing seems able to stall India's drive to become a player in the global auto industry...
...Read "Made in India: The $12,000 Electric...