Introduction of Fuel Cell Vehicles into India

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Introduction of Fuel Cell Vehicles into India

Introduction of Fuel Cell Vehicles into India

India is one of the most lucrative markets in the world. Now considered an economic giant in Asia, India has been building a viable manufacturing sector and it is currently producing heavy machinery including automobile.    India is one of the most populous nations on earth world. According to CIA World Fact Book (2009) estimates, India has more than 1,166,079,217 people making it second populous nations after China.

Introduction of Fuel Cell Vehicles into India

This population, stratified into various classes and market segment with different purchasing powers, makes a lucrative market base for any product. The country has a diverse economy which comprise of traditional farming, cottage industries, modern agriculture, modern industries, and a vibrant service sector.

Introduction of Fuel Cell Vehicles into India

For the last three years, India has maintained a GDP real growth rate of 7.4% in 2008, 9% in 2007, and 9.4% in 2006 with a GDP per capita of $2,900 in 2008.