Just a year ago India was forecast to become the world’s third largest automobile market overtaking Japan, but the industry is now grappling with its worst slump in over a decade. As Anjana Pasricha reports from Gurgaon, a business hub near New Delhi, the plummeting fortunes of the $ 100 billion auto industry reflect a broader slowdown in India’s economy, which grew at its slowest pace in nearly five years in the first quarter of the year.