1991 is the most important year in the history of India, as well as the mobile automotive industry and other segments. In 1991, India adopted global policies and foreign direct investment (FDI) to improve the country's national and per capita income. At the time, the Minister of Finance was the current Prime Minister of India, Dr. Man Mohan Singh. He made agreements and policies around the world and asked them to invest in the Indian market.
Politicians and agreements were very flexible and attracted capitalists and industrialists and encouraged them to invest their capital in the Indians. Until 1991, policies and agreements were very tough, India allowed only less percent of foreign ones. After 1991, Indians allow 100 percent foreign investment in India.
In fact, the Indian market is the best forum for the investment of capital automakers. Until 1991, there were very few automobiles and automakers in India, people usually imported luxury cars from international automakers. In 1991, there was a sudden shift, international automotive manufacturing entered Indian marked and dominant Indian brands such as Ambassadors and Premium Padminis.
International car manufacturers have changed the taste of Indian customers, producing excellent quality cars. They created competitions and led to the creation of the best models of cars day by day. The strength, the interior, the safety, the exterior of the cars have received modern designs and have changed the scenario of car models in India.
International automakers, such as Hyundai and Honda, have invested in the Indian market since 1991. Hyundai is a South Korean brand that has achieved tremendous success in the Indian market. Hyundai entered the Indian market in 1998 and is currently the second largest car manufacturer after Maruti Suzuki in India.
Hyundai is the best example for the show, India is one of the best forums for car manufacturers. Even the Honda Motor Company is also the best example to explain the significance of 1991. Honda is currently the seventh largest manufacturer in the world, which entered the Indian market in 1995, and Siel India Limited entered the domestic car market and is one of the fastest growing car manufacturers.
