Toyota to hike prices on some U.S. models
An industry that was licensed, controlled and restricted in the early years of independent India and had limited contribution to the economy, currently contributing about 5% of the GDP and it is targeted to grow five fold by 2016 and account for over 10% of India’s GDP. While, the Automobile industry’s evolution dates back to late 1960s (though genesis could be traced back to 1940s), economic liberalisation of early 1990s gave it a further boost. The year 2001 marked the beginning of landmark policy reforms in the sector, Quantitative restrictions were removed, 100 percent FDI was permitted...
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photo: Creative Commons / lorentey (Karoly Lorentey)
