ET Now: Let’s talk about the automobile market…
RC Bhargava: India is now the biggest growing market in the world. There is no other country in the world of any size that has the potential of growth in the car market which India has.
Whether it is the United States, whether it is Europe, whether it is Japan, whether it is China — all these countries have now become saturated in terms of their ability to absorb more cars. And all these countries really are not having any growth in their market. Their production is a replacement kind of situation.
India is the only country which has still a lot of distance to go before the market becomes saturated. It is for this reason that in the last 15-20 years almost every car manufacturer in the world has found its way into India. And those who have not come are looking to come now, because they think that the changing technologies and requirements give them an opportunity which they might have missed earlier.
So the Indian car market is going to be a growing car market. Equally, it is going to be a highly competitive car market. It has been a competitive car market for the last 15 years. It is going to continue to grow to be a very competitive market.
In any competitive market, the beneficiary is always the customer. And to get the customer to buy your cars, companies have to work to bring the best of technologies, the best of products, the greatest reliability in the products, the best of after-sales service. That is what Maruti has been trying to do all these 40 years.That is what we will continue to do and we will continue to see that we make our best efforts to keep a large part of the market under our control.