The economic liberalization of 1991 turned the Indian economy into a competitive market-place. Every sector of the economy—whether industrial or consumer – was opened up to competition from global players. The Indian passenger car industry also attracted considerable attention both nationally and internationally, particularly in the last decade (post 1993). The industry attracted investment from domestic as well as overseas players. New players, who entered the country after auto sector de-licensing in 1993, created additional capacities and domestic players followed by augmenting their own capacities.
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