India goes for cars and oil demand soars
16/2/2006 BBC More than a million cars were bought in India last year, and India’s car market is set to grow by 10% this year. More and more Indians are able to afford a car now, as their salaries have risen along with the Indian economy’s soaring growth. Foreign and domestic car firms have been ramping up capacity to meet that demand. Korean car maker Hyundai says India is one of its fastest growing car markets and is planning to double its production here In turn, this has boosted demand for petrol, which – when combined with industrial demand – has sent demand for energy soaring. India imports almost three quarters of its energy to meet the demands of its population of more than a billion people. This proportion is set to rise as energy demand is expected to double in the next five years.