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The automobile industry in India has long been recognized as a core manufacturing sector with the potential to drive national economic growth. India's attraction as a destination for automobile manufacturers has been underscored by the number of new manufacturers entering the country over the last two decades, through FDI. The number of manufacturers has continued to grow in India over the years across vehicle segments. Multinational and Transnational firms may enter a market by different modes of Foreign Direct Investment (FDI), either by Greenfield, Mergers & Acquisitions, Joint Ventures or Contract manufacturing. Indian automobile industry currently has a wide mix of home grown automobile companies and foreign invested companies. In this FDI development and the inclusion of more automobile manufacturers, the product development process of companies also has gone through a change.