THE AUTOMOTIVE SECTOR IN INDIA

The automotive industry in India is one of the major driving forces of the Indian economy. It accounts for approximately 7% of the country's gross domestic product (GDP) and produces 24.97 million vehicles in 2018, including passenger vehicles, two-wheelers, commercial vehicles, and three-wheelers.

The Indian automotive industry has become the 4th largest in the world, with growth of 9.5% year-on-year and sales of 4.02 million units per year (excluding two-wheelers).

By 2026, the Indian automotive industry (including component manufacturing) is expected to reach Rs. 16.16-18.18 billion (USD 251.4-282.8 billion), whilst the two-wheelers industry is expected to grow to 9% . In addition, the Indian government has committed to converting 100% of vehicles on the streets to electric by 2030, as well as investing in advanced charging and infrastructure.