What was once a tiny sector, India’s automotive industry has skyrocketed in the recent years, leading analysts to ask the question, how much more is it going to grow?
When you think of India, you don’t typically think of cars. I personally think of a lot of people, elephants, and Slumdog Millionaire (just putting this out there, I’m not 100% sure there are elephants in India, but it’s still what I picture). But imagine the market for a small, cheap, decent people carrier. It’s simply enormous! Cars are to India as social media is to North America; an emerging concept that has taken hold and shot through the roof.
What doesn’t hurt either is the fact that India is expected to have the greatest population increase in the next few years, and that it is a developing country, creating new demands for products such as cars. Car manufactures should invest in opening up production plants and putting showrooms there, because the profits will be huge, if they can develop products that suit their lifestyle.
With cars taking off, one has to ask, what is next? What will be the ‘Facebook’ of the developing worlds? The person who can answer that question will find themselves wondering how Bill Gates was so poor.