India exports 14% PVs, 16% 2-wheelers made domestically in 2024: SIAM data

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India exports 14% PVs, 16% 2-wheelers made domestically in 2024: SIAM data - Business Standard

Quick Summary:

In January Piyush Goyal, Union minister for commerce and industries said in January that India exports roughly 14 per cent of the vehicles made here, and the ambition is to touch 25 per cent.

Kavan Mukhtyar, partner and leader, automotive, PwC felt that 2024 saw some macro headwinds in the global economy, some of which are likely to continue into 2025.“One has to watch the regime change in the US very closely and understand its implications on India and the currency,” Mukhtyar said.

India’s largest PV exporter Maruti Suzuki India, which has cumulatively exported 3 million vehicles from the country, is targeting to increase its exports to 750,000-800,000 units by the end of this decade.