Jaguar Deal Highlights India's Rise

To understand India's economic rise, look to its cars.

The iconic Indian automobile of a generation ago was the Ambassador, a noisy, boxy clunker that was ubiquitous despite its ungainly 1950s style.

Compare that to the newest Indian-owned line of cars, the famously sleek and sophisticated Jaguar, which Tata Motors, India's biggest auto company, purchased Wednesday, along with Land Rover, in a landmark $2.3 billion deal.

The vehicle upgrade could be a metaphor for the transformation the entire country has gone through in recent years, as the so-called "License Raj" _ the stifling state-run socialist system widely blamed for shackling India's economy _ came to an end, giving rise to a new middle-class whose appetite for consumption has reshaped India and spurred a national economic boom…(Read more..)


Source :CNN Money