Harley to GM, India's auto market remains elusive for most global firms

India’s automobile market has been nothing short of an enigma for global auto companies. Over the last three years, at least three global brands — Harley-Davidson, being the latest — were forced either to exit or scale down their operations. This is the very same market that, till a decade ago, promised much with its demographic dividend, low car and two-wheeler penetration and a growing economy.
 

Even as the fundamentals that attracted companies over the past two decades remain intact, a sputtering economy has stalled these grand plans. If that wasn’t enough, policy flip-flops, an unviable tax structure, and the