India's automobile industry roadway to reach $1 trillion exports by 2030

 

India's automotive sector is continuously booming.  The demand for Indian vehicles has seen significant growth. The Indian EV sector has drawn many buyers from the global market. In the short time, Indian EV products have gained immense popularity. The high quality vehicles, low cost and more durability has generated more interest for Indian EV products.

According to the India import export data reports, Indian EV exports had shown a growth of 241% this year. In the fiscal year 2022, the EV exports from India totaled to be $7.98 billion. Whereas, this year, the EV exports from India had shown record growth of $21.3 billion. The market trends depict the increased demand from Nepal and European countries.

India export data suggest that Nepal, France and Germany were among the top importers of Indian Electric vehicles. From January to June 2023, Nepal had imported over $3 billion worth of electric cars from India. The total electric cars shipments from India to Nepal are estimated to be around over 1200. 

The demand will further increase although the exports slide further during September 2023.India's leading electric vehicle company like Ather Energy is planning to invest in the Nepal market. Nepal is about to receive its first ever flagship model of e-scooter 450X soon.

Among European countries, France sounds to be more interested in India's EV products. Our India customs data reports suggest that France has imported over $2.3 billion worth of EV's from India during this year. The increase was magnificent as compared to $168 million last year. After France, Germany was the third biggest importer of India’s EV products.

In the past fiscal year, Germany EV products imports from India were merely $85 million. Whereas, Germany did record EV imports from India this year. It is estimated to be around $342 million in FY 2023. The Indian EV sales in China and the United Kingdom remained steady this year. Vietnam, Australia, Brazil and Guatemala had also shown interest in Indian EV products.

Global import export data reports show that two wheeler vehicles were the most exported products from India registering the record exports of 4.6 million units in the current financial year. Whereas, passenger vehicles (662K), three wheelers (365K), commercial vehicles (78K), and quadricycles (3K) were other major automotive exports of India by category. 

In terms of exports, India's top EV export companies were Mahindra Electric, Tata Motors, Ashok Leyland, Olectra Greentech and Ather Energy. You could extend your export turnover like these leading EV companies with the help of data based market intelligence. Exim Trade Data, a leading global import export data provider company has developed a database of over 200+ countries. 

Experts see the potential in Indian automobile exports and are predicting $1 trillion automotive exports from India by 2030. Through this database, you can spot EV market demand, sourcing of EV parts and lithium, product pricing, buyers and suppliers. A data drive could help you drive genuine business leads and enhance your production. You can make your EV export business  global success through the help of Exim Global Trade Intelligence System.