The joint venture between Fiat and Tata Motors, Fiat India Automobiles Pricate, revealed that the Fiat 500 is scheduled to hit the Indian market this month.

The Fiat ‘Nuova’ 500 is based on the Fiat Panda and has most of its styling cues from the original 1950s Nuova 500. Though new for India, the car had already launched in July, 2007.

The addition of the Fiat Nuova 500 to India is rather fitting as the country is one of the largest small-car producers in the world. They alone account for three-fourths of the domestic car market.

Other manufacturers such as Renault Nissan, Toyota and Hyundai, also have plans to release their own small cars onto the market. With even Tata launching the Nano soon, priced at $2500, India is set for an influx of small cars in the next two years.