Commerce Minister Piyush Goyal Urges Auto Industry to Target 50% Export Share by 2030
Commerce and Industry Minister Piyush Goyal has tabbed upon the automobile industry to set an would-be target of increasing the share of vehicles exported to 50% of all passenger vehicles produced in India by 2030. This undeniability comes as a significant jump from the 14% export share reported in the last fiscal year. Minister Goyal emphasized India’s labor arbitrage and skilled manpower pool, stating that the country should leverage these advantages to unzip a increasingly substantial export share.
Addressing the curtain raiser event for the Bharat Mobility Global Expo 2024, scheduled from February 1 to February 3, Goyal stressed that the wheels industry should not limit itself to a 25% export share but strive for at least 50%. He highlighted the rapid increase in India’s contribution to the world, projecting the export share of vehicles to reach well-nigh 25% of all passenger vehicles produced in India by 2030.
Moreover, Goyal outlined the expectation that virtually 30% of two-wheelers produced in India would be exported by 2030. The three-day Bharat Mobility Global Expo 2024 is positioned as the country’s inaugural global mobility expo. With increasingly than 600 exhibitors from over 50 countries, the expo aims to showcase cutting-edge technologies and breakthroughs in mobility.
The event will full-length over 27 leading vehicle manufacturers unveiling new models and electric vehicles, emphasizing the automotive industry’s transferral to innovation. Alongside vehicle manufacturers, the expo will host over 400 wheels component manufacturers and increasingly than 1,000 brands from over 13 global markets, displaying a comprehensive range of products, technologies, and services—from supplies to OEMs to the aftermarket.
Highlighting the global participation, defended country pavilions from Japan, Germany, Korea, Taiwan, and Thailand are expected, with spare international representation from the US, Spain, UAE, Russia, Italy, Turkey, Singapore, and Belgium.
The Bharat Mobility Global Expo 2024 will encompass specialized exhibitions, including the wheels show, ACMA Automechanika, a large-scale tire exhibition, urban mobility solutions, EV infrastructure pavilion, shower tech pavilion, and various conferences tent variegated aspects of the mobility value chain.
Minister Goyal’s call for a substantial increase in the export share aligns with India’s aspiration to wilt a major player in the global automotive market, capitalizing on its economic advantages and promoting technological advancements in the sector.
