+
Indian Automobile Industry Soars with 12.5% Growth
ECONOMY & POLICY

Indian Automobile Industry Soars with 12.5% Growth

The Indian automobile industry has witnessed a significant surge, registering a remarkable 12.5% growth in the fiscal year 2023-24. This surge comes as a testament to the resilience and adaptability of the sector, overcoming challenges posed by the global pandemic and supply chain disruptions.

The growth trajectory of the Indian auto industry reflects the nation's robust economic recovery and consumer confidence. With increasing disposable incomes and a growing middle class, there has been a surge in demand for vehicles across various segments.

Passenger vehicle sales have shown robust growth, driven by factors such as new product launches, attractive financing options, and pent-up demand. Additionally, the shift towards electric vehicles (EVs) has gained momentum, with government incentives and initiatives promoting eco-friendly mobility solutions.

The commercial vehicle segment has also witnessed a significant uptick, indicating a revival in economic activities such as infrastructure development, construction, and logistics. This resurgence in commercial vehicle sales is a positive sign for the overall economy, indicating increased business confidence and investment.

Furthermore, the two-wheeler segment continues to be a cornerstone of the Indian automobile industry, catering to the diverse transportation needs of the population. With innovations in design, technology, and fuel efficiency, two-wheeler manufacturers have been able to maintain steady growth amidst changing consumer preferences.

The growth of the Indian automobile industry has far-reaching implications, driving employment generation, fostering technological advancements, and contributing to overall economic development. As the industry continues to evolve, stakeholders are optimistic about sustaining this growth momentum and leveraging emerging opportunities in the domestic and global markets

The Indian automobile industry has witnessed a significant surge, registering a remarkable 12.5% growth in the fiscal year 2023-24. This surge comes as a testament to the resilience and adaptability of the sector, overcoming challenges posed by the global pandemic and supply chain disruptions. The growth trajectory of the Indian auto industry reflects the nation's robust economic recovery and consumer confidence. With increasing disposable incomes and a growing middle class, there has been a surge in demand for vehicles across various segments. Passenger vehicle sales have shown robust growth, driven by factors such as new product launches, attractive financing options, and pent-up demand. Additionally, the shift towards electric vehicles (EVs) has gained momentum, with government incentives and initiatives promoting eco-friendly mobility solutions. The commercial vehicle segment has also witnessed a significant uptick, indicating a revival in economic activities such as infrastructure development, construction, and logistics. This resurgence in commercial vehicle sales is a positive sign for the overall economy, indicating increased business confidence and investment. Furthermore, the two-wheeler segment continues to be a cornerstone of the Indian automobile industry, catering to the diverse transportation needs of the population. With innovations in design, technology, and fuel efficiency, two-wheeler manufacturers have been able to maintain steady growth amidst changing consumer preferences. The growth of the Indian automobile industry has far-reaching implications, driving employment generation, fostering technological advancements, and contributing to overall economic development. As the industry continues to evolve, stakeholders are optimistic about sustaining this growth momentum and leveraging emerging opportunities in the domestic and global markets

Next Story
Building Material

Viva ACP Launches Experience Centre in Nashik

Viva ACP, one of Asia’s leading manufacturers of Metal Composite Panels (MCP), has unveiled a new state-of-the-art Experience Centre in Nashik. Situated at Plot No. 10, Kathe Industrial Estate, Tigrania Road, Dwarka, the centre aims to make Viva’s premium cladding solutions more accessible to architects, developers, and design professionals in Western India. The centre was formally inaugurated by Prakash Jain, Chairman and Managing Director, Viva Composite Panel, along with Nitin Jain and Mayank Jain, Directors at the company. Conceptualised as an interactive and immersive space,..

Next Story
Technology

Hikrobot Launches HDMI Video Micro System in India

India, July 2025: Hikrobot has introduced its HDMI Video Micro System in the Indian market, offering a plug-and-play imaging solution that combines 2K high-definition clarity, real-time streaming, and portability. The system is designed for professionals in sectors such as industrial inspection, medical research, forensic science, education, and precision manufacturing. Unlike traditional imaging setups that require external PCs and complex software, the Hikrobot HDMI Video Micro System provides direct output to an HDMI display, eliminating setup complications and improving usability.&nbs..

Next Story
Real Estate

Stone Wood Hotels Appoints Shishir Kumar Jena as CFO

Stone Wood Hotels & Resorts has announced the appointment of Shishir Kumar Jena as Chief Financial Officer. This key leadership move aligns with the boutique hospitality group’s ongoing national expansion. Shishir Kumar Jena brings over 32 years of experience in hospitality finance, having held senior positions with renowned brands such as Acron, Radisson, and Fortune Inn Exotica. His expertise spans financial strategy, operational efficiency, revenue optimisation, and aligning financial performance with guest satisfaction. Throughout his career, Jena has maintained a consisten..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?