The ascendency of India as an economic world power

Indian car industry is growing at a very fast pace. Leading car makers are now fighting for grabbing a pie of the Indian car market. Honda bosses are now excited with the growth prospect that India can offer for them and have decided to take the Indian market more seriously. The Economic Times reported:

Japanese auto major Honda on Tuesday said it is targeting sales of 62,000 units in the Indian market by end of the fiscal.

The company sold 43,000 cars last fiscal, HSCI President and CEO Masahiro Takedagawa told reporters here at the launch of a redesigned third generation Honda SUV CR-V.

The Honda CR-V made its global debut in 1995 and has since then cumulatively sold more than 2.5 million units across 160 countries.

Honda is one of the car makers that entered the Indian market in a very good time. It has witnessed a healthy growth in the Indian market. There is more potential for growth too.