There was already a buzz around town when I was in Bombay last week about the launch of Tata's People's Car, with the no-frills version retailing at just over UK1000 equivalent, and rapidly becoming known as the "one lakh car" (it costs 100,000 rupees). With India having a projected middle class of 500,000 000 in the next decade, its a very smart move. Quite what effects this has on fuel prices or the planet is another matter, as is the impact it has on car markets around the world, especially as Tata should also complete on the Jaguar deal shortly. With Tata offering the full spectrum of cars from entry-level to luxury, US car manufacturers in particular may come under yet more intense pressure to survive. And China is only just getting started on reverse engineering every western car currently available!
African inequality rising
10 hours ago