New Delhi, Oct. 16 -- In a tough market where Detroit's auto giants folded, a new wave of foreign automakers is doubling down. Spurred by a domestic automobile boom and pressure from homegrown rivals, these manufacturers are committing tens of billions of dollars to build localized supply chains, establish global R&D hubs, and position India as an export powerhouse.

At least three global automakers -- Stellantis NV, Hyundai Motor Group and Suzuki Motor Corp -- have announced mega investment commitments in India in recent months, gunning for a bigger share of the world's third-largest car market. Dutch carmaker Stellantis was the latest to commit an additional Rs.4,000 crore over the next three years. Earlier, Suzuki outlined a Rs.77,500 ...