India's Growing Automobile Industry Drives Growth in Steel Sector

BANGALORE, INDIA--December 15, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--India's sound engineering base and its proficiency in manufacturing cheaper and more fuel-efficient cars has caused the country's auto industry to attract global automobile companies such as Hyundai Motor Company Limited (SEO:005380) (Seoul, South Korea), Nissan Motor Company Limited (PINK:NSANY) (Yokohama, Japan), Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan), Volkswagen AG (PINK:VLKAY) (Wolfsburg, Germany), Ford Motor Company (NYSE:F) (Dearborn, Michigan) and Suzuki Motor Corporation (TYO:7269) (Hamamatsu City, Japan), among others. With manufacturing facilities spread across the country, these companies are now gearing up to export vehicles manufactured in India to other nations.

This upswing in the automobile sector has led to the flourishing of ancillary industries. Steel, a major component of the automobile and infrastructure sectors, has experienced a huge growth of production in India, which ranks as the fifth-largest producer in the world.

Other companies featured: General Motors Company (NYSE:GM), Maruti Suzuki India Limited (BSE:532500), Tata Motors Limited (NYSE:TTM)