Automotive Industry: Powering India's Participation in Global Value Chains
On 11th April 2024, NITI Aayog released a report titled ‘Automotive Industry: Powering India’s Participation in Global Value Chains’.
The report outlines India’s Global Value Chain (GVC) potential in the automotive sector and highlights strategic pathways for global leadership.
Key Insights from the Report
Strategic Importance of the India’s Automotive Sector
- Contributes 7.1% to India’s GDP and 49% to manufacturing GDP.
- India is the fourth-largest automobile producer globally, with an annual production of nearly 6 million vehicles.
- Employs millions and supports critical linkages across steel, electronics, and IT sectors.
- India's current share in globally traded auto components is approximately 3% or 20 billion.
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