PVs, 2Ws drive robust auto export growth this year
Business Standard|December 23, 2024
EVs, low-cost production fuel global ambition as India eyes 50% export target
SOHINI DAS
PVs, 2Ws drive robust auto export growth this year

India's passenger vehicle (PV) exports during the first 11 months of 2024 grew by 7.79 per cent to 664,648 units while the two-wheeler shipments to overseas countries saw a nearly 22 per cent year-on-year jump to 3,602,151 units, according to data collated by the Society of Indian Automobile Manufacturers (Siam).

India targets to export 50 per cent of its automobile production. Around 14.6 per cent of the passenger vehicles (PVs) and 16.34 per cent of the two-wheelers manufactured in the country were exported between January and November, the data showed.

Although the country has a long way to go to achieve the 50 per cent target, industry experts feel that over the next four to six years, India's auto exports will continue to grow in double digits.

In January, commerce and industry minister Piyush Goyal said India exports roughly 14 per cent of its vehicles, asserting that the target is to take this number to 50 per cent.

India surpassed Japan last year to become the third-largest automaker in the world.

This story is from the December 23, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the December 23, 2024 edition of Business Standard.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS STANDARDView All
A global outreach beyond business
Business Standard

A global outreach beyond business

An ancient civilisation with a modern outlook, India has a lot of fine strengths – in cinema, sports, art, culture, food, yoga – that it is building on

time-read
3 mins  |
January 04, 2025
Union Carbide waste disposal: Protests rock Pithampur, 2 attempt self-immolation
Business Standard

Union Carbide waste disposal: Protests rock Pithampur, 2 attempt self-immolation

Two persons on Friday attempted self-immolation, adding to tensions in Pithampur, Madhya Pradesh, as protests against the planned disposal of 337 tonnes of hazardous waste from Bhopal's defunct Union Carbide factory continued in the small industrial town.

time-read
1 min  |
January 04, 2025
Over 500 flights delayed, 24 train ops hit in Delhi
Business Standard

Over 500 flights delayed, 24 train ops hit in Delhi

Palam airport records zero visibility from 8 am to 9.30 am Friday

time-read
2 mins  |
January 04, 2025
AFTER SINDHU, WHO?
Business Standard

AFTER SINDHU, WHO?

Women's badminton faces uncertainty due to a shrinking talent pool, lack of quality coaches, and overreliance on Gopichand

time-read
4 mins  |
January 04, 2025
No cause for alarm: Indian health officials on hMPV spread in China
Business Standard

No cause for alarm: Indian health officials on hMPV spread in China

As the world marks the fifth anniversary of the Covid-19 pandemic in 2025, another flu-like illness has emerged, though Indian officials insist there is no reason to panic.

time-read
1 min  |
January 04, 2025
Jefferies: '25 may be year of monetary easing in India
Business Standard

Jefferies: '25 may be year of monetary easing in India

Brokerage raises target price for HDFC, ICICI Bank

time-read
2 mins  |
January 04, 2025
Business Standard

Avenue Supermarts hits 15% upper circuit after Q3 update

Avenue Supermarts (owner of DMart retail chain) shares clocked 15 per cent upper circuit in trade on BSE at ₹4,160.4 per share on Friday. Buying in the stock sparked after the company released its Q3 business update.

time-read
1 min  |
January 04, 2025
Business Standard

Film producer Vipul Shah's Sunshine Pictures files DRHP

Film and television producer-director Vipul Shah-backed Sunshine Pictures has filed draft papers with the market regulator Sebi to raise funds through an initial public offering (IPO).

time-read
1 min  |
January 04, 2025
MFs' Equity Buying Topped ₹4 Trillion in 2024
Business Standard

MFs' Equity Buying Topped ₹4 Trillion in 2024

Mutual funds' (MFs) equity buying jumped over twofold in 2024 to top ₹4 trillion for the first time.

time-read
1 min  |
January 04, 2025
Business Standard

Quadrant Future fixes price band at ₹275-290, offer opens on Jan 7

Quadrant Future Tek on Friday said it has fixed the price band at ₹275-290 per equity share for its ₹290-crore initial public offering (IPO) that will open for public subscription on January 7.

time-read
1 min  |
January 04, 2025