Autobayng News Team
Pawan Goenka“>
Auto industry, which has recorded 20 per cent growth in exports in recent years, has the potential to account for half of the country’s total manufacturing output in coming years, said Pawan Goenka, former President of the Society of Indian Automobile Manufacturers (SIAM) and ex-CEO of Mahindra & Mahindra during the 65th annual convention of the body.The industry veteran said the exports are outpacing the domestic market expansion and has been 4x than the domestic sales. “The number that I am most enthused about is exports. In the last four or five quarters, we are growing at almost 20 per cent, three to four times that of domestic growth. If this continues, we would achieve 50 per cent of our manufacturing going for export,” he noted.To achieve the country’s goal of becoming the world’s third-largest economy and targeting a $32 trillion economy by 2047 automobile exports are expected to play a critical role. “Export of vehicles and components will drive prosperity and global competitiveness,” he said.
He further highlighted, India has the opportunity to emerge as a hub for sustainable mobility, especially in mass market electric two-wheelers, three-wheelers and small cargo vehicles. India can be a manufacturer of affordable EVs suited to Asia, Africa and Latin America with a potential of becoming a leader for Global South.
Along with this India can play a key role in energy independence, technology self-reliance, clean air, safer roads and improved quality of life.
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