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Institutional Change and Industrial Development: The Experience of the Indian Automobile Industry

In: Institutional Dynamics and the Evolution of the Indian Economy

Author

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  • Aya Okada

Abstract

India’s recent growth record is very impressive, making it one of the world’s fastest-growing emerging economies. Its economic reforms over the past two decades have resulted in dynamic restructuring, growing pressure to compete globally, and an increased inflow of foreign capital. The automobile industry is one of the industries that have gone through the most rapid transformations in recent years. Indeed, the industry has recently achieved remark ablegrowth, with its annual production volume soaring to over eleven million vehicles (including two and three wheelers) as of 2007. India is now the fourth largest car-producing country in Asia—after Japan, China, and Korea—and is rapidly emerging as a global hub for small car production.

Suggested Citation

  • Aya Okada, 2009. "Institutional Change and Industrial Development: The Experience of the Indian Automobile Industry," Palgrave Macmillan Books, in: Murali Patibandla & Rajesh Kumar (ed.), Institutional Dynamics and the Evolution of the Indian Economy, chapter 4, pages 83-118, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-62013-1_4
    DOI: 10.1057/9780230620131_4
    as

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