According to the news reports, the above said capacity ramping project in India is said to be eyeing a USD 2 billion opportunity.
While the decision has been taken keeping in mind the tougher rules aimed at improving the road-safety records.
The latest road safety figures certainly highlight the fact that in India, in almost every four minutes, a person is killed in a road accident. The road accident figures recorded for the year 2014, showed that about 141,000 lost their lives and every year about 2.6 million cars sold each had air bags in this cost-conscious market.
As per the data figures given for Transparency Market Research, showed that by 2020, the airbag sales in India are set to rise 11% a year to hit USD 2 billion as by that time India is expected to be selling over 5 million cars per year.
Date : September 15, 2015