The global financial crisis is challenging accepted wisdom about where the balance of global economic and political power lies. Many Western economies are struggling to shrug off the burden of recession, while the economic powerhouses of the East – China and India – are leading the charge of recovery.
Nowhere is this contrast more stark than the automobile industry, a key barometer of consumer confidence. While the global auto industry survives on ‘cash for clunkers’ schemes, the Indian automobile market tells a different story.
