The ascendency of India as an economic world power

Indian car market has already become one of the fastest growing car markets in the world. Now, having realized the vast Indian market and the success of some global carmakers, Malaysia’s national carmaker Proton is now interested to make its presence visible in Indian car market. A high official from Proton is now visiting India along with Malaysian trade minister Rafidah Aziz on this regard. The company earlier tried to enter into the Indian market in 1999 in association with local auto maker Hindustan Motors, a sister concern of CK Birla group. However, the deal was not activated at last because of some problems.

The Economic Times reported:

“As many global OEMs are successful in the Indian market, we are scrutinising various business models that can be applied. We are gauging the international market and our new range of cars — the 1 litre Savvy, 1.6 Litre Gen.2 & 1.6 litre Neo which will debut in Thailand later this week. The international market’s response to our new-generation cars and the price factor will determine our India debut,” the official added.

Proton has experienced a sharp decline in its sales last year. Proton could sell out 115,538 units, a sharp decline from 166,118 units of 2005. That is why, Proton is now planning to increase its annual sales launching their business in China and India. They have already entered into Chinese market initiating a joint venture with a local auto maker.