Institutional Change and Industrial Development: The Experience of the Indian Automobile Industry

Aya Okada

Chapter 4 in Institutional Dynamics and the Evolution of the Indian Economy, 2009, pp 83-118 from Palgrave Macmillan

Abstract: Abstract India’s recent growth record is very impressive, making it one of the world’s fastest-growing emerging economies. Its economic reforms over the past two decades have resulted in dynamic restructuring, growing pressure to compete globally, and an increased inflow of foreign capital. The automobile industry is one of the industries that have gone through the most rapid transformations in recent years. Indeed, the industry has recently achieved remark ablegrowth, with its annual production volume soaring to over eleven million vehicles (including two and three wheelers) as of 2007. India is now the fourth largest car-producing country in Asia—after Japan, China, and Korea—and is rapidly emerging as a global hub for small car production.

Keywords: Foreign Direct Investment; Foreign Firm; Commercial Vehicle; Passenger Vehicle; Indian Market (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62013-1_4

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DOI: 10.1057/9780230620131_4

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