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|8th September 2006, 13:54||#1|
Its raining money in Indian Auto industry
Nissan is putting in 3000cr in maruti to set up new plant:
Tata is going to invest 12,000 crore in the next few years. Yes the number is 12K crore
Honda and toyota will invest around 200 million $ for their small car plans and increasing capacity
Hyundai is planning to increase percentage of exports from 33% at present to 50% by 2008
Mahindra and Mahindra are going to invest 550cr
Looks like the only guys not in the party are the Americans, though Ford India sales have looked up 89% due to Fiesta. Also Ford believes that demand for small cars will slow down when we have better roads. In other news pigs were seen flying over New Delhi
|8th September 2006, 14:41||#2|
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Theres more to it...surprisingly Maharashtra is back in the race, after our state was pushed out (rightly so) by several MNCs due to unstable and incompetent political leaders. The Enron scandal only pushed the nail further.
|8th September 2006, 14:47||#3|
Senior - BHPian
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Yup the sector suddenly seems to have taken off and taken everyone by surprise. A lot of capacity is being built with brands like BMW also setting up plants here. Let's see if this translates into better products for us with the lastest engines & other features especially safety features being introduced on products sold to us....
|8th September 2006, 14:49||#4|
Yes it is indeed ironic. Until a few years ago, maharashtra was the role model for other states. It was the hub of industry with every major manufacturer setting up there.
Now the preffered destination is either Tamil Nadu or Andhra.
Even historically industry unfriendly states(read agricultural) like punjab are looking up with companies mooting to get there.
Soon maharashtra may have only have bollywood and the financial capital of India to boast off, but the way delhi is attracting invetments nowadays(delhi means NCR like noida/gurgaon) it may be stripped of that too.
|8th September 2006, 15:36||#5|
Join Date: Feb 2006
|8th September 2006, 15:41||#6|
Look at the ground realities.
Mumbai suffers from crumbling infrastructure and insane living costs.
Compare that to Delhi. Being the capital ensures it has unlimited funds for roads/flyovers/metro etc.,
This is how migration happens.
|8th September 2006, 18:59||#7|
Join Date: Mar 2005
Thanked: 161 Times
Also, mumbai is the worst place when it comes to safety! blasts anytime anywhere anymoment! while Delhi is still quiet safe in these matters.
This is nice to see so much money being invested in the Indian Auto Industry, as in the longterm india is bound to be one of the major Export hub for major "mass volume" manufacturers.
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