India to become third largest automobile market by 2020: Study
The Dollar Business Bureau Total turnover of the automobile industry in India is expected to reach $145 billion by 2016 Despite a slowdown in recent years, India is expected to become a major automobile manufacturing hub and the third largest market for automobiles by 2020, according to a report published by Deloitte. The report says that the global automobile industry is changing and the focus is expected to turn to India where automobile demand and manufacturing are growing. It says that various factors including higher income growth, large work force and low oil prices are likely to drive the sector forward in the coming years. According to official sources, India is currently the seventh-largest automobiles producer in the world with ...
