Automotive industry plays a vital role in country’s economic and industrial development. It is one of the fastest growing sectors in the world. De-licensing in 1991 and subsequent 100% FDI in the sector has put the Indian automobile industry on a new growth trajectory, which attracted foreign auto giants to set up their production facilities in the country to take advantage of the various benefits it offers. Large middle class population, growing earning power and strong technological capability have been boosting automobile demand for the past few years.