The ascendency of India as an economic world power

It is a very fierce battle. Last year, Tata announced that it was going to produce Rs. 100,000 (nearly $2000) car in India. Then, it was hailed as World’s cheapest car. Then, other companies realized that it was a very important market segment and they joined the race too. In the last few weeks, we have seen announcement from a number auto companies that they were in the race to provide very cheap car for the Indian market.

I have already reported about the plan of Nissan Renault to roll out $3000 car in Indian market. It seems that Toyota Motor Corp, Honda Motor Co, Fiat, and Volkswagen AG- all are planning to introduce very cheap cars in Indian market.

Thus, the competition is getting intense to produce cheapest cars in the world. It is surely good news for the consumers. Millions of families in India wan to own a car but they cannot because the price is beyond their reach.