SIAM data: Indian vehicle exports to grow rapidly in 2024-25

Another positive development has occurred in the Indian vehicle industry. According to the most recent data from SIAM (Society of Indian Automobile Manufacturers), car exports from India would expand dramatically in 2024-25. According to the report, Indian auto exports are predicted to grow by 19.2% this year. This is not only a significant triumph for India’s automobile industry, but it also demonstrates India’s expanding worldwide significance.

Strong position of Indian automobile industry

India has become one of the largest automobile manufacturers in the world. Be it two-wheelers, three-wheelers, cars or commercial vehicles, India’s production and quality are now rapidly gaining recognition in international markets. Due to the strength, affordable price and reliable performance of Indian vehicles, their demand has increased rapidly all over the world.

It is clear from the data of SIAM that the Indian automobile sector has now gained a new momentum after recovering from difficult times (like the post-pandemic period). These figures of export growth in 2024-25 can open up even bigger opportunities for the industry in the coming times.

Which vehicles are seeing an increase in exports?

According to the SIAM report, the highest export growth is being seen in the two-wheeler and passenger car segments. Indian motorcycles, scooters and small vehicles are in great demand in foreign markets as they are not only affordable but also save fuel and are durable.

Apart from this, the export of electric vehicles (EVs) from India is also gradually picking up pace. With the demand for EVs increasing globally, Indian companies are also performing well in this segment.

Reasons behind the increase in exports

There are several reasons behind this surge in Indian automobile exports:

• Competitive prices: Indian vehicles are available at affordable prices with quality.
• Excellent manufacturing capacity: India’s production units are now at par with international standards.
• Global demand: The demand for Indian vehicles is constantly increasing in regions like Africa, Latin America and Asia.
• Government support: The Government of India is also working on several schemes and incentives to increase exports.
• Innovation and technology: Indian companies are constantly investing in new technology and design, making their products more attractive.

What does this mean for the industry?

This 19.2% increase in vehicle exports is not just a figure. It shows that the Indian auto industry is now becoming a major force globally. This will benefit the country in foreign exchange, create new employment opportunities and also strengthen India’s economic growth.

Also, when Indian companies compete in international markets, they are motivated to produce even better quality products. Domestic customers also get a direct benefit from this, as they also get more advanced and better vehicles.

Future prospects

According to SIAM estimates, if this growth trend continues, India can make an even bigger leap in vehicle exports in the coming years. Especially in the field of electric vehicles, India has every possibility of becoming a major global player. For this, the government and companies will have to work together towards continuous innovation, quality improvement and improving logistics.

Indian automakers like Tata Motors, Mahindra & Mahindra, Hero MotoCorp, Bajaj Auto and TVS Motor have already made a strong presence in the export market. In the coming times, India’s name can be raised even higher through their new models and technology.

Conclusion

This data of SIAM has brought a new ray of hope for the Indian automobile industry. The potential increase of 19.2% in vehicle exports in 2024-25 clearly shows that India is making its strong place on the world automobile map.

This success is a matter of pride not only for the industry but for the entire country. If this pace continues, we will see more and more Indian vehicles on roads around the world in the coming years, and the ‘Made in India’ tag will gain even more respect.

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