Indian auto industry sees double-digit growth in FY 2007-08
Despite the 8% appreciation of rupee since April 2007 and the fact that it had badly hit sectors like textile and IT, the Indian automobile industry actually witnessed a double-digit positive growth in absolute numbers during the financial year 2007-08, thanks to Companies foraying into newer Markets, several new launches and a gradual shift from dollar driven countries to Euro nations. Auto major Maruti Suzuki India Ltd (MSIL) posted 34.9% jump in exports during this period at 53,024 units as compared to 39,295 units during the same period last year.