Shri Suman Bery, Vice Chairman, NITI Aayog, launched a new report on 'Automotive Industry: Powering India’s Participation in Global Value Chains' today in New Delhi.
India's auto industry is rapidly growing to become a major player in the Global Automotive Value Chain and aims to scale auto component production to $145 billion by 2030. As per the report, India's GVC share in auto components is expected to rise from 3% to 8% by 2030.
Competitive manufacturing, infrastructure, R&D, and skill development will be the major drivers of the growth of the Indian Automotive industry. Additionally, the automotive industry is undergoing a transformative shift towards electric vehicles (EVs), driven by rising consumer demand for sustainable mobility, regulatory pressures to reduce carbon emissions, and advancements in battery technology. EVs, AI, and smart components are reshaping supply chains. India can lead — if we move fast and invest smart.
FTAs, foreign collaborations, and Joint Ventures will unlock global markets for Indian auto manufacturers, which will further help in realising the vision of generating 3-4 million jobs by 2030.
The report will also shed light on the Global & Indian Automotive Landscape, Emerging Trends in the Automotive Sector, Challenges Facing India's Automotive Sector, Proposed Interventions for Growth, and Fiscal & Non-Fiscal Interventions. This report will play a pivotal role in providing India with a path to spearhead its automotive market and become a leader in the global Automotive industry.
To know more:
niti.gov.in/sites/default/fi…
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