Auto industry logs 11.5 pc growth
The automotive industry in India grew at a computed annual growth rate (CAGR) of 11.5 per cent over the past five years, the Economic Survey 2008-09 tabled in parliament Thursday said.
"The industry has a strong multiplier effect on the economy due to its deep forward and backward linkages with several key segments of the economy," a finance ministry statement aid.
The automobile industry, which was plagued by the economic downturn amidst a credit crisis, managed a growth of 0.7 per cent in 2008-09 with passenger car sales registering 1.31 per cent growth while the commercial vehicles segment slumped 21.7 per cent.
Source : The Economic Times
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