The ascendency of India as an economic world power

The initial euphoria over Tata Nano (World’s cheapest car) has perhaps finished for the time being. Tata Nano will come in the market after few months and then we will see a lot of interest about the car among consumers. Tata Nano has perhaps reminded the world that Indian companies are becoming skilled in manufacturing. India is mainly famous for service sector.

National Post wrote:

Both in the 1980s and 1990s India grew at a very healthy clip of slightly under 6% a year, while lately it has climbed to 9%. This could not be done on the basis of the IT industry alone. Truth is, India also has a strong manufacturing sector, in which the automotive industry, with sales of US$34-billion, accounts for 5% of GDP and provides 13 million direct and indirect jobs. In auto parts and components India has already become a global player, supplying many of the world's leading producers. And it is now in automobiles that India is staking its claim to fame with the recent launch of the Nano, Tata Motors' "people's car."

Right now, China is famous for its manufacturing sector. So, if India has to become a manufacturing powerhouse in the world then it will have to come in to direct competition with China. India needs more success stories like Tata Nano.