Renault forecasts that China and India will be world’s leading economies within two decades
China is already the world’s biggest automotive market meanwhile India is following closely as it is evident by the effort of global automakers racing towards creating vehicles just for the Indian consumer. Numerous studies are coming out about how neighboring countries to China and India will be benefited from their progress including Pakistan, which is still completely paralyzed by the thought of revolution and scarred with terrorism and corruption.
Renault, who is a French automaker, signaled in its recent report the importance of Middle-eastern countries as well as India, through bringing business reforms to attend to the increase in sales demand there.
Previously, India and Middle East were controlled by Renault’s Asia Pacific HQ but now, Middle East India will be a separate division making this region, it’s sixth region overall.
The decision came due to the following reason; “By 2017, China and India will represent close to 50 percent of Renault Group’s potential for growth – its overall highest.” Thus, Renault’s decision to separate Middle East and India from Asia Pacific region to; “help strengthen operational management and enable dedicated teams to focus on a smaller number of short- and medium-term goals.”
But the biggest forecast by Renault is that, within just two decades, China and India would become the world’s first and second largest economies globally. And in the words of Renault, “supporting in the process countries within the area like Indonesia, Thailand and Pakistan.”
Renault already holds the rank of Europe’s best selling brand in India, due to increased demand and the popular Renault Duster, a medium-sized SUV.
Renault’s CEO, Carlos Ghosn announced a new vision-statement called “Drive the Change” in February of 2011, which includes tapping potential economies and markets around the world by 2016. The head of the new Middle East India region is already being pushed to bring Renault to Iran whereas a Chinese joint-venture is already signed between Dongfeng and Renault and, by the time ‘Drive the Change’ is completed in 2016, this part of the world which includes; Pakistan, Thailand and Indonesia, could take up nearly 50 percent of Renault’s growth potential.
For Pakistan to maintain a competitive position against it arch-nemesis in corridors of power around the world, a thriving economy and national peace will soon become a matter of strategic importance as India races towards the podium of world’s largest economies.