India takes the tag of being the 5th largest car manufacturing nation. There were 25.7 lakh cars manufactured from January – June 2016.
The Indian market is growing at a good pace. After the 7th pay commission, there is expectation of an increase in demand of the new cars. There is a significant growth in the number of exported cars also.
South Korea had produced 45.5 lakh cars last year in comparison to 41.2 lakh cars in India. Due to the unrest in labour conditions, the industry out there is facing a huge setback. The workers are demaning a salary hike and are going on long strikes. This has hampered the industry.
This position is sure to be held by India for a long time. Mexico might overtake South Korea as Kia motor has setup a production plant there to counter the labour problem in Korea.
Make In India!