India became the 4th largest vehicle market in the world, with a fast-growing domestic as well as export market.
Manufacturer of two-wheelers and three-wheelers in the world
Contribution to GDP
Contribution to total exports of the country
US$ 222 bn
Value of India's automotive industry
US$ 33.77 bn
Foreign investment received between April 2000 to September 2022.
Asia’s longest high-speed track and the fifth-largest in the world
Market size for the financing of EVs in 2030
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
S Jaishankar, the Minister of External Affairs, highlighted the paramount …Read More
Manufacturing, electric vehicle, and engineering sectors, along with the offshore …Read More