India became the 4th largest vehicle market in the world, with a fast-growing domestic as well as export market.
Increase in passenger vehicles sales in FY 21
Total passenger vehicle production in FY21
manufacturer of two-wheelers in the world.
largest commercial vehicle manufacturer.
Foreign investment received between April 2020 to December 2021.
of Indian GDP represented by automobile sector.
Indians employed, directly and indirectly, by the auto industry.
FDI permitted through an automatic route in the auto industry.
hike in exports targeted by the Indian auto sector in the coming years.
The main objective of the scheme is to encourage faster adoption of electric and hybrid vehicle by way of offering upfront incentive on purchase of electric vehicles and also by way of establishing a necessary charging Infrastructure for electric vehicles. The scheme will help in addressing the issue of environmental pollution and fuel security.
The following Phased Manufacturing Programme (PMP) is notified with the objective of development of domestic manufacturing of electric vehicles, its assemblies/sub-assemblies, and parts/sub-parts, thereby increasing the domestic value addition and creating employment opportunities.
The PLI scheme across 10 specific key sectors will make Indian manufacturers globally competitive, attract investment in the areas of core competency and cutting-edge technology; ensure efficiencies; create economies of scale; enhance exports and make India an integral part of the global supply chain.
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India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive and capital establishments
Ford - US$1bn investment with large manufacturing facility in Chennai.
General Motors - exports from focused manufacturing base in India.
Hyundai - runs plant near Chennai and multi-million dollar R&D unit.
Renault - 4% share of Indian car market and a global R&D centre.
Toyota-Kirloskar Motor manufactures and sells vehicles in India.
Maruti Suzuki India Limited (MSIL), a subsidiary of Suzuki Motor Corporation, Japan, is India’s largest passenger car maker. Maruti Suzuki is credited with having ushered in the automobile revolution in the country.
India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive, and capital establishments