Automakers are expected to invest $8-10 billion (Rs 51,600-64,500 crore) in India over the next three-four years to set up factories and expand production in a market that is set to become the third-largest for passenger vehicles by the turn of the decade.
The investment will boost production of cars, utility vehicles and vans in India by 1.3-1.5 million units a year and generate employment for 20,000-25,000 people, said industry insiders and experts.