Investment in Automobile Industry in India
By 2026, India is predicted to be the third-largest automotive market globally in terms of volume. If you're considering investing in India's automobile business, keep in mind that the country is home to the world's largest tractor manufacturer, second-largest bus maker, and third-largest heavy truck manufacturer.
In April-March 2020, the industry will produce 26 million vehicles, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles, of which 4.7 million will be exported. India is the world's largest tractor manufacturer, second-largest bus maker, and third-largest heavy truck manufacturer, putting it in a strong position in the international heavy vehicle market.
Between 2020 and 2027, the electric vehicle market is predicted to increase at a CAGR of 44 percent, with annual sales reaching 6.34 million units by 2027. By 2030, the electric vehicle sector will have created five crore direct and indirect jobs.
In 2030, a $50 billion market for EV financing has been identified—roughly 80% of the current size of India's retail car loan business, which is worth $60 billion today.
100% FDI allowed under automatic route.