The Automotive Industry in India.

Currently India's auto industry is worth of more than US$100 billion and contributes 8% of the country's total export and accounts for 2.3% of India's GDP.

The Automotive Industry in  India.

The automotive industry has produced 22.93 million vehicles from April 2021 to March 2022, including passenger cars, commercial vehicles, three-wheelers, two-wheelers, and four-wheelers. It is the world's largest bus manufacturer and the world's third-largest heavy-duty truck manufacturer.

  •     Currently, the automobile sector accounts for 49% of India's manufactured GDP and 7.1% of the country's overall GDP.
  •     The EV market is expected to grow at a CAGR of 49.0 from 2022 to 2030, reaching annual sales of 10 million units by 2030. The EV industry will create 50 million direct and indirect jobs by 2030.
  •     The market size of EV financing in 2030 is estimated at US$50 billion. This is around 80% of the size of the current Indian retail vehicle financing industry, with a current value of US$60 billion.
  •     Indian passenger automobile industry expected to record 16% growth in FY23
  •     The Indian truck market is expected to more than quadruple by 2050. The number of trucks is expected to more than quadruple from 4 million in 2022 to nearly 17 million by 2050.
  •     India's automotive industry is worth more than US$222 billion, contributing 8% of the country's total exports and 7.1% of India's GDP, and is projected to be the third largest in the world by 2030.