Checkout the following article to see why I feel the demand for fuel is going to increase a lot in India. More vehicles means more fuel demand; More fuel demand means more crude refining capacity needed which in turn implies more demand for the services of Engineers India Ltd.
I am not concerned about the recent decrease in the sales growth of cars. In the month of October 2011, even after the 30% crash in sales of cars, on an average, about 4400 new cars were sold each day of the month, including Sundays and Holidays. Also, 42000 two wheelers were sold each day of the month, again including Sundays and Holidays. We are not even talking about the fuel guzzling commercial vehicles.
Also, on a mass scale, we are not going to replace oil as fuel in vehicles so soon. If petrol and diesel were soon to be replaced by batteries or other fuels; Ford, Tata, Peugeot and Maruti Suzuki wouldn't be setting up new car manufacturing plants with petrol and diesel engines.
http://articles.economictimes.indiatimes.com/2011-11-27/news/30447027_1_indian-dream-middle-class-maruti-suzuki
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