Automaking may be a problem area for America's economy right now, but it's still an attractive one for India.
Automaking may be a problem area for America's economy right now, but it's still an attractive one for India. The Indian government is investing several million to help create an infrastructure, hoping to spur double-digit annual growth over the next 10 years.
As in America decades ago, this growth will mean huge job growth. India's auto market is less than two million, so there isn't yet a need for automation. "When you're making a car every five minutes, you can maintain quality without automation," said Pawan Goenka, president of Mahindra and Mahindra Ltd.'s Automotive Sector, one of India's largest automotive firms.
This growth will be driven largely by domestic sales, but the country is also looking for dramatic increases in the export of both cars and mechanical components.