Global Automakers to Invest $8 Billion in India

Over the next four years, automakers will invest $8-10 billion to set up factories in India. Maruti Suzuki, South Korea based Hyundai Motor Company and Kia Motors, Chinese SAIC, Changan and Beiqi Foton, and Italy’s Fiat, are among the companies that plan to expand production in the country.

The Indian subsidiary of SAIC Motor Corp is called MG Motor India and most likely the company will roll out its first vehicle from the country late next year or early 2019, reports ET Auto.

Cars

According to industry body the Society of Indian Automobile Manufacturers, India’s passenger vehicles industry currently has a production capacity of over 5.5 million. The automotive industry, including component manufacturing, is estimated to grow to almost $50 billion in annual sales by 2026 it added.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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