The year 2008 was a pivotal one for India, marked by a series of notable events that had lasting impacts on the nation’s socio-political landscape, economy, and technological advancements. Here are some of the main events that shaped India in 2008:

1. Launch of Tata Nano

On January 10, 2008, Tata Motors unveiled the Tata Nano, touted as the world’s cheapest car. This innovative vehicle was aimed at making car ownership accessible to millions of Indians, revolutionizing the automobile industry. It was also the first and only time the International audience took note of India rising as an Automobile nation. It would take many mistakes and decades for Tata to become one of the leading car makers of the country. A decade earlier Ratan Tata and his team faced “humiliation” when they went to sell the group’s fledgling car business to Ford in 1999.

2. Tata buys JLR

Year 2008 is also

the year when Ford approached Tata to sell their car business. Ratan Tata got his sweet revenge as he bought Jaguar & Land Rover series (their worst selling cars at that time) from Ford and turned it around within a few years.

3. Chandrayaan-1 Mission

India made a significant leap in space exploration with the successful launch of its first lunar mission, Chandrayaan-1, on October 22, 2008. This mission marked India’s entry into the elite club of lunar explorers and was a major milestone for the Indian Space Research Organisation (ISRO).

It was the Indian mission which found traces of water on the moon but US being US took all the credit for it even before Indian scientists

4. Mumbai Terror Attacks

One of the darkest days in India’s recent history occurred on November 26, 2008, when Mumbai was rocked by a series of coordinated terrorist attacks. The attacks, carried out by ten members of the Lashkar-e-Taiba, resulted in the deaths of 166 people and left hundreds injured. This tragic event highlighted the need for enhanced security measures and international cooperation in combating terrorism.

The year 2008 was also filled with memorable sports moments like:

5. The IPL was born:

The Indian Premier League (IPL) began in 2008, with the inaugural season scheduled to start in April of that year. The Board of Control for Cricket in India (BCCI) founded the 20-20 cricket league, which is held annually in April and May. The first season was won by the Rajasthan Royals led by none other than the one and only Shane Warne. It was watched by 200 million Indians on TV and 10 million overseas viewers. Within two seasons, the IPL became the world’s sixth-biggest sports league.

6. Tendulkar surpasses Brian Lara as top run scorer

Tendulkar surpassed Brian Lara to become the leading run-scorer in Test cricket. He achieved this milestone during the Border-Gavaskar Trophy series against Australia. He played for the Mumbai Indians in the inaugural season of the IPL. He scored a total of 188 runs in the season. Tendulkar’s achievements were widely recognized, and by then was considered as one of the greatest cricketers of all time.

7. Vinod Kambli Marries Andrea Hewitt and retires from International Cricket.

In international sports:

8. Michael Phelps gets 8 Gold in Olympics:

The American swimmer won an unprecedented eight gold medals, breaking the record for the most gold medals won in a single Olympics.

9. Usain Bolt becomes a sensation:

 The Jamaican sprinter set world records in the 100 meters (9.69 seconds), 200 meters (19.30 seconds), and the 4×100 meters relay, becoming a global sensation.

10. Rafael Nadal wins Wimbledon

Rafael Nadal won his first Wimbledon title in an epic final against Roger Federer, which is considered one of the greatest tennis matches of all time. Nadal’s victory ended Federer’s five-year reign at Wimbledon.

The year 2008 was marked by significant international financial events.

11. Lehman Brothers Bankruptcy

On September 15, 2008, Lehman Brothers, one of the largest investment banks in the U.S., filed for bankruptcy. This event is often considered the tipping point of the financial crisis. In the U.S., the Emergency Economic Stabilization Act was passed, which included the $700 billion Troubled Asset Relief Program (TARP) to purchase distressed assets from financial institutions. Global stock markets experienced severe declines. The Dow Jones Industrial Average, for example, saw significant drops, reflecting the widespread panic and uncertainty. Many financial institutions faced insolvency. Notable examples include the acquisition of Bear Stearns by JPMorgan Chase and the bailout of AIG by the U.S. government. The financial crisis led to a global recession, with many countries experiencing negative growth, high unemployment rates, and significant economic downturns.

12. Fall of Suzlon Energy from No 3 in the World.

Suzlon Energy was one of the hardest hit Indian companies by the Lehman Brother Bankruptcy, its ensuing credit crisis and falling stock valuations. Just a year ago Suzlon was the 3^rd biggest wind turbine manufacturer in the world. Suzlon got caught in this credit crisis as it tried to expanded into Europe, acquiring companies like Senvion. This expansion was heavily debt-funded, and the Lehman financial crisis exacerbated Suzlon‘s debt issues. By FY2009, Suzlon‘s net debt had ballooned to ₹118 billion. Suzlon fell from No. 3 position in the world into debt. The company has, after spending more than a decade in the red, now recovered and in 2024 is once again profitable.

For India year 2008 was a year of paradox. On one side it was hitting a high points with Nano, JLR, Chandraan-1, Tendulkar overtaking Lara and on the other there were many losses like the Mumbai Terror Attacks,  Vinod Kambli giving up International Cricket (he could have at least played on till age 40). The biggest financial loss being Lehman Bros Bankruptcy & due to Lehman Bankruptcy the fall of Suzlon. After all very few Indian companies have touched No. 3 position in the world in any industry.