india car exports: Piyush Goyal asks auto trade to boost share of autos exports to 50% from 14% now

“With our arbitrage in labour prices and expert manpower pool, India ought to have 50% export share within the auto sector. The auto trade shouldn’t restrict itself to reaching a 25% export share and as an alternative goal for a minimum of a 50% export share,” Goyal stated on the curtain raiser of Bharat Mobility World Expo 2024, which is scheduled to be held from February 1-3 February.

India’s contribution to the world is rising quickly with share of autos being exported from 14% at current, to about 25% of all passenger autos produced in India by 2030. Equally, about 30% of two-wheelers produced in India is predicted to be exported by 2030.

The three-day Bharat Mobility World Expo 2024, starting February 1, is being promoted because the nation’s first international mobility expo. With over 600 exhibitors from over 50 nations, the expo will spotlight cutting-edge applied sciences and breakthroughs in mobility.

“Greater than 27 main car producers are set to unveil new fashions and electrical autos, showcasing the automotive trade’s steadfast dedication to innovation,” the commerce and trade ministry stated in an announcement.

Together with car producers, the occasion may have over 400 auto element producers, above 1000 manufacturers from above 13 international markets, displaying their complete vary of merchandise, applied sciences, and providers, from provides to OEMs to the aftermarket.“Greater than 10 main firms may even be showcasing EV infrastructure providers together with charging stations and battery swapping options through the occasion,” the ministry added.