The Indian Automotive Industry is growing at a frenetic pace over the past few years. Sure, there have been slow downs and growth spurts in the course of time. But overall, we are pretty much at a higher pace than most other countries. There are several research reports that are published by various organizations that mention that India will be huge small car hub come 2015.
This frenetic pace has caught the eye of various foreign manufacturers (both luxury and utilitarian) and almost everyone wants to set up a shop in India. But, more importantly, various countries are also interested in partnering with the Indian Automotive Industry to reap the benefits. We have had talks with Korea, Taiwan and even France. Now, the land down under wants to develop strong ties with Indian manufacturers for a brighter future.
Australian government believes that strong ties between Indian and Australian manufacturers will create new export opportunities and also secure the ongoing strength of the multi-billion dollar auto industry over there. Australian Minister for Innovation, Industry, Science and Research, Kim Carr is on a visit to India and is discussing various possibilities of partnerships with Indian firms.
He had meetings with Tata Motors and Mahindra & Mahindra to build closer links between Australian innovative automotive companies and the Indian market. He also believes that with the help of the new R&D Tax Credit Legislation in Australia, Indian automotive industry can develop more vehicle design, manufacturing processes and low emission technologies in Australia which will benefit both the countries.
[Source - innovation.gov.au]