The US has quietly raced to become the third-biggest market for passenger vehicles (cars, utility vehicles, and vans) manufactured in India during the financial year ended March 31, 2018. With just $3 million worth of exports, the nation did not even figure in the top 80 markets in the previous year.
But the value of shipments, according to the commerce ministry data, grew multiple times to $654 million (Rs 45 billion approx.) in 2017-18, thanks to a single product from one carmaker, Ford. The auto firm started exporting the EcoSport, the compact sport utility vehicle (SUV) manufactured ...
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