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Booming automobile sector

New Delhi, Aug 19 (ANI): The Indian auto industry has come a long way since its inception. It has emerged as a major contributor to India's gross domestic product (GDP), accounting around 7% and employing about 19 million people both directly and indirectly. In addition, with Government's backing and a rapid growth in demand of cars, multi-utility vehicles (MUVs), two and three wheelers and auto components, the sector is set to attract foreign investors. India is currently the sixth largest passenger vehicle market in the world, and is geared to overtake major markets in Europe and North America in the next decade. Aug 19, 2014
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